Commission grants clearance to Southern Cross
Issued 11 November 2004-05/061
Commission grants clearance to Southern Cross Oxford Hospital
The Commerce Commission has cleared Southern Cross Oxford Hospital Limited (SCOHL) to acquire the assets of the Oxford Clinic business in Christchurch. The assets include the lease of buildings, various assets including stock, business contracts, intellectual property and goodwill.
SCOHL is a new company which will be the agent for a 50/50 partnership between Southern Cross Hospitals Oxford Partnership Limited, a wholly-owned subsidiary of The Southern Cross Health Trust, and Oxford Clinic Holdings Limited (OCHL). OCHL is comprised of The Oxford Clinic Limited and The Oxford Clinic.
Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the New Zealand markets for the provision of private day-patient and in-patient hospital facilities for elective secondary surgery in Christchurch, due to sufficient existing and potential competition.
A public version of the decision will shortly be available on the Commission’s website www.comcom.govt.nz under Adjudication.
Commission media releases can be viewed on its web site www.comcom.govt.nz