Primary Health Care Ltd.'s former CEO Peter Gregg "categorically" denied media reports that he is working with Chinese architectural company Jangho Group Co. Ltd. regarding a potential takeover, The Australian Financial Review reported June 2.

The company said in a press release the same day that Gregg's stepping down in May was due to his resignation in January and after a replacement was named.

Gregg has contractual arrangements in place which would not allow him to work for any potential bidder for the duration of his notice period, up until Jan. 13, 2018.

Shanghai-listed Jangho is a shareholder in Primary Health Care with a 16% stake and is considering establishing its presence in Australian healthcare assets.