Gold Coast man Gregory Campbell, formerly of Healthe Care Australia, pleads guilty to insider trading

A Gold Coaster has pleaded guilty to insider trading related to a 2016 takeover bid for Pulse Health.

A GOLD Coaster has pleaded guilty to insider trading related to a 2016 takeover bid for Pulse Health.

On October 19, 2016, Gregory Campbell while an executive with Healthe Care Australia acquired 392,257 shares in Pulse Health Limited for about $127,384.

This was in the lead-up up to an announcement of a takeover bid by private hospital operator Healthe Care.

Campbell sold the shares for a profit of more than $30,000 on October 21, 2016.

In 2018 he was charged with three counts of insider trading following a case brought against him by the Australian Securities and Investments Commission.

He was committed for trial on two counts the following year after one count was dismissed due to insufficient evidence that he possessed inside information when he applied for 350,000 shares in Pulse on October 7, 2016.

On Friday he appeared in the County Court of Victoria and pleaded guilty to one count of insider trading after the other count was removed from the indictment.

He will be sentenced on October 12 in the County Court of Victoria.

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.