Ramsay Health from Australia is buying Elysium, a UK provider of psychiatry for $ 1 billion

December 13 (Reuters) – Australia’s Ramsay Health Care Ltd (RHC.AX) announced Monday that it would buy UK mental health care provider Elysium Healthcare Ltd for £ 775 million ($ 1.03 billion) to tap the UK’s mental health market.

Elysium operates 72 locations in the UK as part of a partnership with the UK government-sponsored NHS health network.

“(The Deal) will bring Ramsay’s $ 15 billion patient pathways into the UK mental health market.

The transaction is expected to deliver mid-single digit earnings per share and synergies of at least £ 5 million per year in FY23, Ramsay said.

Earlier this year, Ramsay failed to buy UK hospital operator Spire Healthcare Group (SPI.L) after investors blocked the £ 1 billion takeover.

($ 1 = 0.7555 pounds)

Reporting by Arundhati Dutta in Bengaluru; Editing by Daniel Wallis and Peter Cooney

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