GHP Global Health

RNS Number:3903I
Global Health Partner PLC
04 September 2006


Global Health Partner plc ("GHP" or the "Company")
Acquisition of Dental Implants

Following its announcement on September 1, 2006 of the acquisition of a 75 per
cent. interest in Gothenburg Medical Center AB ("GMC"), a sports medicine clinic
in Gothenburg, GHP announces that it has also entered into an agreement to
acquire a 51 per cent. interest in a dental implants business carried out from
the Specialisttandvarden clinic at Sophiahemmet in Stockholm and from a dental
implant and odonthology clinic in Stockholm, Soderkliniken (together "Dental
Implants")



Acquisition details

GHP is acquiring 51 per cent. of Dental Implants for consideration of #1.92
million, payable on completion, which is expected to be on or about September 6,
2006; to be satisfied by the issue of 3.2 million GHP ordinary shares of 50
pence (valued at 60 pence). In the latest 12 months reported financial
statements to August 31, 2005, the businesses comprising Dental Implants had pro
forma revenues of #3.44million and profit after tax of # 0.67 million, at
current rates of exchange (SEK/#: 13.69). Pro Forma Gross assets were #4.13
million. The remaining 49 per cent. will be held by Dental Implants' management
and clinicians. Additional consideration will become payable if certain earnings
targets are met over the next three years. GHP plc has the option to acquire and
Dental Implants the option to sell the remaining 49per cent. shareholding after
August 2009; to be satisfied by cash or the issue of GHP shares, at GHP's
option. Pro Forma revenues and profits for the businesses for the year to August
31, 2006 are expected to be ahead of the prior year.

This is the second of the additional two acquisitions outlined in the Company's
AIM admission document dated 25 July 2006. Both acquisitions fit into the
Company's strategy to invest in specialised healthcare services and to
incentivise management and clinicians through equity participation in their
respective businesses.

Application to AIM has been made for the 3.2 million GHP shares to be issued as
consideration for Dental Implants and it is expected that these will be admitted
to AIM on completion of the transaction which is expected to be on or about 
September 6, 2006.



Dental Implants

Dental Implants operates two clinics in Stockholm which co-operate significantly
with each other. One clinic specialises in high quality and convenient implant
insertions, while the other clinic specialises in periodontology, which involves
the diagnosis and treatment of diseases of the periodontium (the tissues that
support and surround the teeth), as well as the placement and maintenance of
dental implants. Surgeons at these clinics possess the skills to remove teeth
and insert implants and abutments in one surgical intervention. The final crown
or bridge can then be fastened within one to three weeks. This clinic has
scientifically documented and published its methods. The Company's Directors
believe that there are few clinics in Sweden which are able to deliver new
implants in such a short time period. The clinics are well established and are
considered to be market leaders in Sweden.

The Directors believe that the market for dental implants will continue to
expand as there will be a move away from conventional bridges, driven by
increased patient demand for more sophisticated solutions. The possibility that
reimbursement systems in various European countries may change to cover this
procedure may give rise to international opportunities moving forward.





Commenting on the proposed acquisition, Per Batelson, Chairman and Chief
Executive of GHP, said

"This acquisition, along with the recently announced GMC acquisition, provides
an exciting opportunity for GHP to enter new service areas and expand further
our specialised medical procedures, in line with the stated strategy of the
Company. We can develop GHP's business by the roll-out of GHP service-lines from
these platforms, initially in the domestic Swedish market. We are pleased in
this early stage of our development to demonstrate GHP's ability to identify
suitable acquisition opportunities and to complete expeditiously transactions
which retain and incentivise management and clinicians of the acquired business
to develop their business with GHP."

CONTACTS:



Per Batelson, GHP CEO: 00- 46-3116-7890 or: 00-46-705-955700

Angela Entwistle:  0207- 248-6700



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQLBMFTMMIMBBF

Global Health (LSE:GHP)
Historical Stock Chart
From Jun 2024 to Jul 2024

Global Health (LSE:GHP)
Historical Stock Chart
From Jul 2023 to Jul 2024