Wakefield Health has finally made a takeover bid for Norfolk Investments.
The private hospital operator is offering $3.80 a share, valuing Norfolk at $24.2 million.
Norfolk owns 60% of the Grace Hospital in Tauranga with the balance owned indirectly by Southern Cross Hospitals.
The offer is conditional on Wakefield securing 50% of the voting rights and Norfolk's businesses carrying on as normal.
The majority of Norfolk's shareholders had signalled they intend to accept an offer.
The offer closes on 18 August.
