Company News

Aussie takeover target Healthscope cuts 2019 guidance

April 16 (Reuters) - Australia’s Healthscope Ltd on Tuesday cut its fiscal 2019 hospital operating earnings guidance, citing weaker market conditions and a focus on public patient services.

The company said it was now targeting hospital operating core earnings in a range of A$362 to A$376 million ($258.7 -$268.7 million), or a growth of 5 to 9 percent, from its initial target of at least 10 percent growth from 2018.

Healthscope also said its shareholders would meet on May 22 to vote on a takeover bid from Canadian investment firm Brookfield, which the board has recommended. ($1 = 1.3992 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Gopakumar Warrier)