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Grafton Health completes takeover of Orion Health

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Grafton Health completes takeover of Orion Health

Grafton Health Holdings Ltd. completed its full takeover of Orion Health Group Ltd. for NZ$1.224 in cash per share.

On March 15, Orion said, more than 50% of its ordinary shares were accepted in the offer. Grafton Health then released a March 18 compulsory acquisition notice to Orion Health's outstanding shareholders in accordance with Part 7 of the Takeovers Code.

Grafton Health is associated with Orion directors Ian McCrae and Michael Falconer, among others.

Following completion, shares of Orion Health will be delisted from the New Zealand Stock Exchange and Australian Securities Exchange effective at market close March 28.

Auckland, New Zealand-based Orion Health provides healthcare information technology services.