Proactive Investor's  Instablog

Proactive Investor
Send Message
Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
My company:
My blog:
  • Pulse Health Group Substantial Shareholder Wyllie Group Ups Stake 0 comments
    Apr 26, 2013 1:22 AM

    Pulse Health Group (ASX: PHG) substantial shareholder Wyllie Group has increased its shareholding in the company to 42.78%, from 40.72%.

    Wyllie Group purchased a further 1.075 million shares for a total consideration of A$59,302, or around $0.05 per share, taking the total number of shares held to 194.9 million shares.

    Earlier this week Pulse Health announced it had acquired the operating assets of the Westmead Rehabilitation Hospital - a move that will reduce the net debt of the company and establishes it as the clear and beneficial owner of the hospital.

    Total consideration for the acquisition is $9.86 million, with settlement scheduled to occur on 31 May 2013.

    Westmead Rehabilitation Hospital is a purpose built 60 bed private rehabilitation hospital located in Merrylands, Sydney, 3 kilometres south of Parramatta and within close proximity of Westmead Public Hospital and Westmead Private Hospital.

    The fully equipped facility provides speech, occupational and physiotherapy along with psychological rehabilitation services to patients post-surgery, stroke and motor vehicle accidents.

    Pulse Health is aiming to complete an expansion project at the hospital in fiscal 2014 to increase bed capacity.

    As at 31 December 2012, Pulse Health had a total cash balance of $1.8 million plus an unused overdraft facility of $0.8 million.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

Back To Proactive Investor's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.