Orion Health IPO final price determined

MEDIA RELEASE - 7 November 2014

Orion Health IPO final price determined

Leading global healthcare software provider Orion Health Group Limited (Orion Health) has today announced a final price of $5.70 per share for shares in its upcoming initial public offering following a bookbuild to institutional investors and NZX firms on 6 November 2014. The final price is at the top of the indicative price range which was set at $4.30 to $5.70 per share.

The final Offer size has been set at $125 million of which $120 million is new capital to enable Orion Health to continue increasing its research and development capacity, improve its implementation and service delivery capability for customers and provide additional financial liquidity.

Orion Health Chairman, Andrew Ferrier, said “I am thrilled at the extraordinarily high demand for Orion Health shares. The Board has held the view that $120 million of new capital is the right amount for the business and it was a tough decision not to increase the size of the offer in the face of such overwhelming demand at the top of the price range.”

“We look forward to welcoming over 20 domestic and offshore institutions, and New Zealand retail investors as shareholders in Orion Health. We are excited about sharing with them what we believe is the single largest opportunity in Orion Health’s history as we look to capitalise on the transformation of the healthcare industry through the health data revolution.”

Chief Executive and major shareholder Ian McCrae comments that “Orion Health started 21 years ago and today is a major international company. This was achieved on the back of great effort from our staff and fantastic ongoing support from our shareholders. The endorsement from investors is humbling and we look forward to them sharing in the exciting times ahead.”

Based on the final Offer price of $5.70 per share, Orion Health will have a market capitalisation of approximately NZ$915 million upon listing.

Joint Lead Managers for the offer are Deutsche Craigs and First NZ Capital and there is no public pool.

The Prospectus and Investment Statement are available at www.orionhealthshares.com

The broker firm offer opens on Monday (10 November 2014) and is expected to close at 5pm on 21 November 2014. Shares are expected to commence trading on the NZX Main Board and ASX on 26 November 2014 under the stock code OHE. (Dates are indicative only and may be amended.)

Orion Health has applied to NZX Limited for permission to quote Orion Health’s ordinary shares on the NZX Main Board. Quotation is subject to approval by NZX and NZX accepts no responsibility for any statement made in this announcement. The NZX Main Board is a registered market operated by NZX Limited, a registered exchange under the Securities Markets Act 1988. Orion Health intends to apply to ASX Limited for permission to quote Orion Health’s ordinary shares on the ASX. Quotation is subject to approval by ASX and ASX accepts no responsibility for any statement made in this announcement. ASX is not a registered exchange under the Securities Markets Act 1988. Ian McCrae and his affiliated entities do not guarantee the shares of Orion Health.

About Orion Health:

Orion Health is a global provider of healthcare software, delivered across our three solution groups – Intelligent Integration, Smarter Hospitals and Healthier Populations. Established 21 years ago, Orion Health today provides its solutions to over 450 direct customers around the world including countries, states, hospitals, insurance companies and healthcare providers and has over 1,100 employees in 27 offices throughout the world.

ENDS

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