Allegations of insider trading

A GOLD Coaster is facing three charges of insider trading relating to a 2016 takeover bid for Pulse Health .

The Australian Securities and Investments Commission alleges that in October, 2016, Gregory Campbell, of Bundall, applied for, and acquired, shares in Pulse Health in the days leading up to an announcement of a takeover bid by private hospital operator Healthe Care.

At that point Mr Campbell was an executive at Healthe Care. It is alleged he was in possession of inside information regarding the takeover.

The charges were listed for a hearing at Melbourne Magistrates Court on Friday, where it was adjoined to October 19.

Each of the charges carries a maximum penalty of 10 years’ imprisonment.

Healthe Care’s bid for Pulse was approved in May, 2017.

It saw the company acquire 13 hospitals from Pulse, including Gold Coast Surgical Hospital at Varsity Lakes, in a $155 million deal. That hospital was closed and then later leased to the Gold Coast Health.