ADP Healthcare Acquisitions Limited, a wholly owned subsidiary of ADP Healthcare Services Limited, has announced the terms of a cash offer to be made for all of the issued and to be issued ordinary share capital of Oasis Healthcare PLC not already held or controlled by the ADP Group. 

The ADP Group trades as Associated Dental Practices and is Oasis' largest shareholder, holding approximately 18.25 per cent. of Oasis' existing issued ordinary share capital. 

The Offer will be 91 pence in cash for each Oasis share, which values Oasis' existing issued ordinary share capital, fully diluted for the exercise of all outstanding options, at approximately £84.9m. 

ADP will be requesting a meeting with the board of Oasis to seek a recommendation of the Offer. 

The offer represents a premium of approximately 93.6 per cent to the closing price of 47 pence per Oasis share on 26 April 2007, the last business day prior to the commencement of the offer period, and a premium of approximately 11.0 per cent. to the offer of 82 pence per Oasis Share announced by Duke Street on 13 June 2007. 

ADP is the third largest Dental Body Corporate. It currently operates 58 practices and employs approximately 200 full time equivalent dentists and hygienists, serving some 470,000 NHS patients across Southern England. ADP is supported by Kaupthing Bank, which is also a shareholder in the business. 

A combination of ADP and Oasis would establish the largest dental company in the UK with over 190 practices nationwide, creating a strong platform from which to provide a high quality service to patients in both the NHS and private markets. 

Commenting on the Offer, Bharat Patel, CEO of ADP, said "We firmly believe that our cash offer of 91 pence per share, which is 11 per cent. higher than the recommended offer from Duke Street, represents fair value for Oasis Shareholders. We will be seeking a recommendation of our offer from the board of Oasis."