PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW - PowerPoint PPT Presentation

PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW 2040 12 FEBRUARY 2007 Attached is a copy of a presentation given by Dr Edmund Bateman at BBY Limited Sydney on Monday 12 February 2007. Andrew Duff Company Secretary

PRIMARY HEALTH CARE LTD PRESENTATION AND BRIEFING BBY LIMITED SYDNEY MONDAY 12 FEBRUARY 2007

SYMBION – PRIMARY PROPOSAL BACKGROUND Over number of years: Multiple discussions Maynes/Symbion and Primary. 1 November 2006: Hard copy presentation by Symbion’s Mr. Robert Cooke (CEO) and Mr. Mark Hooper (CFO) to Primary’s Dr. Bateman (MD) and Mr. James Bateman (COO), at Carnegie Wylie’s. Early December 2006: Dr. Bateman provides a draft proposal – Symbion Option 1. Mid December 2006: Discussions Carnegie Wylie and Mr. Robert Cooke re modifications. 21 December 2006: Proposal, with modifications, to Mr. Robert Cooke.

Synergy estimates FY08 P S Pathology $26m-$37m $15m-$20m Radiology $8m-$13m $4m-$8m Technology $15m-$23m Unknown? MC’s $23m-$32m $15m-$20m Head Office $6m-$12m $6m-$12m Total $78-$130m $40m-$60m +Technology (Symbion Hardcopy Presentation, Discussion Paper pg 1)

Potential structures • Given the extent of the synergies available, bringing the businesses together is compelling • Option 1 - Merger – nil premium • Option 2 - S acquires P • Option 3 - P acquires S (Symbion Hardcopy Presentation, Discussion Paper pg 2)

Deal outcome – Option 1 Merger • Nil premium • Significantly accretive for both companies • Merger ratio on the 2008 EPS $130m $78m $60m Accretion basis of relative P 63% 45% 37% market caps S 35% 21% 14% • P 43% • S 57% Possible issues • Complexity • Pharmacy and Consumer business……acceptable divestment can be achieved • Social issues……best management team to deliver synergies (Symbion Hardcopy Presentation, Discussion Paper pg 3)

Deal outcome – Option 2 S acquires P • Assumptions - 30% takeover premium - $60m synergies ($20m cost to achieve) - 15% debt funded (maintains existing debt/EBITDA ratios) - Deal would be dilutive to S shareholders - For deal to be EPS neutral for S shareholder’s maximum price $15.30 (Symbion Hardcopy Presentation, Discussion Paper pg 4)

Deal outcome – Option 3 P acquires S • Assumptions - $78-$130m synergies ($20m cost to achieve) - 15% debt funded (Net debt/EBITDA 3x) • FY08 deal return to P shareholders EPS accretion $78m $130m 30% premium 23% 42% 40% premium 16% 35% 50% premium 11% 28% (Symbion Hardcopy Presentation, Discussion Paper pg 5)

PRIMARY – SYMBION PROPOSAL • Maximum synergistic fit. • Merger ratio market cap at time – fairest to all. • Lead managed by PRY team, and, SYB managers to optimize outcome. • Proposed due diligence and negotiations allow for adjustments. • Control (56%) to current Symbion shareholders. • SYB shareholders given exposure to PRY shares that have consistently given higher shareholder benefits.

PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW - PowerPoint PPT Presentation

PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW 2040 12 FEBRUARY 2007 Attached is a copy of a presentation given by Dr Edmund Bateman at BBY Limited Sydney on Monday 12 February 2007. Andrew Duff Company Secretary PRIMARY

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PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW - PowerPoint PPT Presentation

PRIMARY HEALTH CARE LIMITED 30-38 Short Street LEICHHARDT NSW 2040 12 FEBRUARY 2007 Attached is a copy of a presentation given by Dr Edmund Bateman at BBY Limited Sydney on Monday 12 February 2007. Andrew Duff Company Secretary PRIMARY

This short presenta-on is developed for primary health care

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Survey of Mental Health Needs in Primary Care at Franklin Kelsey Murray Franklin Primary Health

Research into primary care and health inequalities Stewart Mercer Professor of Primary Care

Primary Care Mental Health for Veterans: Integrating Care October 25, 2017 Integrated Care

1 Interprofessional Collaboration Primary care is the central pillar of health care. The

The goal of health care systems Primary goal of health care policy = to maximize the health of

FAMILY PHYSICIANS PRIMARY HEALTH CARE ALMA ATA 1978 PHC Service Delivery Reforms Comprehensive

Primary Care Training &amp; Enhancement HRSA Grant Purpose: to prepare future primary care

PRIMARY EYE CARE AND CHILDHOOD BLINDNESS PRIMARY EYE CARE TRAINING Training will be provided

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