Green Cross, PEP withdraw from Tamaki Health deal

Green Cross and Australia's PEP have pulled out of a process to buy Tamaki Health. Photo / File

NZX-listed health care provider Green Cross Health and Australia's Pacific Equity Partners (PEP) have withdrawn from a process to buy Tamaki Health.

In September Green Cross, in a statement responding to speculation in the Australian media, said it was working with PEP on a deal to buy Tamaki Health.

It said then that there was no certainty that any transaction would be concluded.

"Green Cross Health now wishes to advise that it and its consortium partner, Pacific Equity Partners (PEP), have formally withdrawn from the process to acquire Tamaki Health," Green Cross said in a short statement to the NZX.

Green Cross Health operates under branded groups Unichem and Life Pharmacies, The Doctors medical centres, Total Care Health community nursing services and Access Community Health to provide support, care and advice to diverse New Zealand communities.

The Auckland-based Tamaki Health has 45 clinics around the country with about 1000 staff, including 300 doctors, handling 230,000 enrolled patients.

Tamaki's practices operate under the White Cross and Local Doctors networks, with urgent care clinics and general practices, as well as the Bettr online medical service.

Green Cross shares last traded at $1.22, having gained 17 per cent over the last 12 months.