Listed medical services and pharmacy company Green Cross Health has pulled out of its potential bid for Auckland-based independent healthcare group Tamaki Health.
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Green Cross announced in late September that it had teamed up with Australian private equity firm Pacific Equity Partners (PEP) on a joint offer.
But in a brief statement to the stock market this morning, Green Cross said both have formally withdrawn from the process to acquire Tamaki Health.
In the September statement, responding to speculation in Australian media, Green Cross said the process was still in its early stages.
It said the nature and any terms of any transaction were yet to be determined, and there was no certainty that Green Cross would be the successful bidder, or that any transaction would be complete.
No further comment was provided to the market following this morning's announcement of the withdrawal.