Dual-listed New Zealand healthcare software platform Orion Health (ASX:OHE) has urged shareholders to vote in favour of sending the company private in the hands of buyers Grafton Health Holdings.

Orion has been listed on the ASX and NZX for the past five years, as it sought to accelerate growth by going public — but now its biggest shareholder, and owner of Grafton Health, Ian McCrae, wants to take it private once more.

The shareholder vote is a formality, however, as Grafton owns more than 90 per cent of OHE shares, meaning it has crossed the threshold to compulsorily acquire the remaining shares under the takeovers code.

Grafton was formed specifically to takeover Orion.

Grafton’s offer is for $1.224 per share. OHE shares are currently fetching NZ$1.21 on the NZX and $1.16 on the ASX.  Orion’s ASX shares were flat on the news.

Orion Health (ASX:OHE) shares over the past year.

Orion Health officially responded to the takeover offer today, with its two independent directors, Andrew Ferrier and Paul Shearer, both recommending the takeover go ahead.

For the few shareholders not involved with Grafton, it is now up to them whether to accept the offer immediately, as is likely, or wait to have their shares compulsorily acquired.

A report by KordaMentha valued the shares between NZ$1 and NZ$1.47.

Grafton told Orion shareholders back in February that taking Orion private was in the best interests of shareholders, after a number sold out of the company in a recent share buyback.