Mayne Group

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Mayne Group
ASX:  MYX
IndustryHealthcare
Logistics
Founded1886
FounderJohn Mayne
Enoch Nickless
Defunct2005
Headquarters
St Kilda Road, Melbourne
,
Australia
Subsidiaries Armaguard
Corporate Wellness Solutions
Health Care of Australia
Interlink Express
Ipec
Loomis
Security Express Guards
Website www.maynegroup.com

Mayne Group was an Australian healthcare and logistics company.

History

Mayne Nickless was founded in Melbourne in 1886 by John Mayne and Enoch Nickless as a parcel delivery service. Within three months it was operating 10 horse-drawn vans, by the end of the year it had 52. [1] [2]

Listed on the Australian Securities Exchange in 1926, it expanded to provide freight services to all Australian capital cities and ports. It also branched into armoured car cash deliveries and international logistics. [3] [4] [5] [6]

In 1975, it entered a joint venture with Trans Australia Airlines to form AAT Coachlines, which was sold in 1983. [7] In 1979 it purchased cash handling company Loomis. [5] [8] In July 1982, Mayne Nickless took a 50% shareholding in Total West in partnership with Westrail. [9] [10] [11] In 1985, Mayne Nickless sold its stake in Total West to Gascoyne Trading Company. [12] In 1983, Mayne acquired a 50% shareholding in Ipec. [13] It acquired the other 50% in 1988. [14]

In 1992 Mayne Nickless took a 25% shareholding in telecommunications company Optus, this was sold in 2001. [15] [16]

After being found to have been part of a price fixing cartel along with Ansett and TNT in the early 1990s, it disposed of its remaining transport and security interests with Interlink and Ipec being sold to the Toll Group, Interlink Express to La Poste and Armaguard to Linfox. [3] [17] [18]

In the 1990s, it diversified into healthcare, purchasing hospitals and later pathology and diagnostic businesses. In 2001 pharmaceutical company Faulding Pharmaceuticals was purchased. [19] In 2002, Mayne Nickless changed its name to Mayne Group. [20]

In 2000, the container parks and warehousing facilities in Sydney, Melbourne and Brisbane were sold to Lang Corporation. [21] In 2003, Mayne's 53 hospitals were sold to Affinity Health, a consortium of Citigroup, CVC Capital Partners and GIC Private Limited. [22] [23] In November 2005, the company was split into Mayne Pharma and Symbion Health. [24] [25] Mayne Pharma was taken over by Hospira in 2007 [26] and Symbion Health was taken over by Primary Health Care in 2008. [27]

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References

  1. ↑ Background Truck & Bus Transportation July 1967 pages 94/95
  2. ↑ Mayne Nickless 100 Australian Transport April 1986 page 24
  3. 1 2 The Armaguard story Armaguard
  4. ↑ History Interlink Express
  5. 1 2 Milestones Loomis
  6. ↑ Group 4 sells cash transport business The Independent 4 August 1993
  7. ↑ Our History AAT Kings
  8. ↑ Loomis Courier rebrands to enhance global positioning Canadian Shipper 13 August 2001
  9. ↑ Mayne Nickless gets nod for Westrail joint venture Truck & Bus Transportation June 1982 page 112
  10. ↑ Unique road/rail joint venture kicks off in WA in lively fashion Freight & Container Transportation September 1982 page 3
  11. ↑ Freight Deregulation Western Rails volme 5, no 4 page 10
  12. ↑ Gascoyne replaces Mayne Nickless in Total West venture Truck & Bus Transportation August 1985 page 60
  13. ↑ Mayne Nickless to buy into Ipec Canberra Times 2 September 1983 page 14
  14. ↑ In Brief Commercial Motor 30 June 1988
  15. ↑ C&W doubles its stake in Optus The Independent 1 July 1997
  16. ↑ Optus brings down for sale sign CNN 26 March 2001
  17. ↑ Freight cartel Australian Competition & Consumer Commission
  18. ↑ Acquisitions Toll Group
  19. ↑ Mayne Nickless places bid on FH Faulding PM 12 July 2001
    Bitter pill after Smedley's ripper ride on hospital-go-round The Age 28 August 2003
  20. ↑ Company name and ASX code changes 2002 Australian Securities Exchange
  21. ↑ Mayne sells port business Truck & Bus Transportation January 2001 page 16
  22. ↑ Mayne Group leaves private hospital sector PM 21 October 2003
  23. ↑ Affinity Health looks at $1.2bn float Sydney Morning Herald 2 February 2005
  24. ↑ Stock surge kick-starts Symbion Inside Business 27 November 2005
  25. ↑ From Faulding to Mayne Pharma Mayne Pharma
  26. ↑ Our History Hospira
  27. ↑ Symbion to accept Primary Health offer ABC News 12 February 2008
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