Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Abano extends Wellington pathology contract by a year

Abano extends Wellington pathology contract by a year in $26 mln deal

Oct. 17 (BusinessDesk) - Abano Healthcare, the specialist medical investor facing a takeover bid from interests associated with its biggest shareholder, has extended its contract to provide Wellington district health boards with pathology services for another year.

Aotea Pathology has extended its contract with the Hutt Value and Capital & Coast district health boards until October 2015 in a deal worth just over $26 million, Abano said in a statement. The extension will give the DHBs some room to review their services as they look for the most cost-efficient means to source pathology and lab services in the region.

“The DHB review is important to ensure that there continues to be a professional, high quality medical service for the greater Wellington area, which provides best value for money,” Abano managing director Alan Clarke said. “We hope that this may lead to longer term contract tenure which would be to the benefit of all parties.”

The Abano unit got a three-year extension in 2010 worth $75 million. The locally-listed company holds a 55 percent controlling stake in Aotea Pathology, with the remainder held by Sonic Healthcare.

Abano shares were unchanged at $6.76 in trading today.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news