Pulse launches $42.5mn capital raising

Sydney-based private hospital operator Pulse Health has launched a $42.5 million capital raising to fund its $48.3 million expansion.

Pulse Health has launched a $42.5 million capital raising to help pay for its acquisition of six Australian medical centres and one in New Zealand.

The Sydney-based private hospital operator announced a fully underwritten $11.5 million share placement alongside a two-for-five pro rata non-renounceable entitlement, which it says will raise $31.0 million at 47 cents per share.

Shares in the company were valued at 48.5 cents when trading was halted on Thursday.

Pulse will acquire five day surgeries across NSW, Victoria, and WA, an acute hospital in WA and a specialist surgical hospital in New Zealand's Hutt Valley for a total $48.3 million.