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New Frontier Health Corporation (NYSE: NFH) announced it received a preliminary non-binding proposal from a Buyer Group led by NFPH, including Carnival Investments and other affiliates. The proposal involves a potential going-private transaction and seeks to acquire all outstanding warrants for the Company’s shares not held by the Buyer Group. However, NFH cautions that no formal proposal for these warrants has been made yet, and the Board has not reviewed the proposal. There are no guarantees of a definitive offer or transaction completion.
New Frontier Health Corporation (NYSE: NFH) disclosed that its board received a preliminary non-binding proposal from New Frontier Public Holding Ltd. and affiliated parties to acquire all outstanding shares at $12.00 per share in cash. This represents a premium of 27.9% over the closing price prior to the proposal. If completed, the transaction would take NFH private and result in its delisting from the NYSE. A special committee will evaluate the proposal, though no definitive agreement has been made yet. The consortium holds approximately 39.8% of NFH shares.
New Frontier Health Corporation (NFH) reported its third quarter 2020 results, showing a 3.7% year-over-year revenue increase to RMB626.6 million and a 14.1% quarter-over-quarter growth. Adjusted EBITDA soared 162.8% year-over-year to RMB89.9 million, driven by revenue recovery and cost-saving initiatives. Despite a net loss narrowing to RMB69.8 million, finance expenses rose due to a senior secured term loan. Tier 1 assets saw 2.1% revenue growth while Tier 2 assets faced a 14.4% decline. Expansion assets thrived, with a 36.0% revenue rise, highlighting recovery across the healthcare segment amidst ongoing COVID-19 challenges.
New Frontier Health Corporation (NYSE: NFH) will release its third-quarter financial results for the period ending September 30, 2020, before the U.S. market opens on December 2, 2020. A conference call will follow at 8:00 am Eastern Time for discussions regarding these results. Participants are advised to join 15 minutes early due to expected high volume. The call will also be available for replay until December 9, 2020, and a webcast will be accessible on the company's investor relations website.