Oct 31 (Reuters) - Orion Health Group Ltd OHE.NZ :
* WILL UNDERTAKE A SHARE BUYBACK AT AN ESTIMATED PRICE RANGE OF $1.16-$1.26 PER SHARE
* ORION HEALTH WILL OPERATE AS THREE SEPARATE BUSINESSES
* COMPLETES TRANSACTION WITH HG FOR ACQUISITION OF RHAPSODY AND A 24.9% STAKE IN ORION HEALTH'S POPULATION HEALTH MANAGEMENT BUSINESS
* HG TO ACQUIRE ORION HEALTH'S RHAPSODY BUSINESS FOR $205 MILLION, ORION TO USE ABOUT $28 MILLION OF PROCEEDS TO RETAIN 24.9% STAKE IN RHAPSODY
* HG TO ALSO TAKE A 24.9% STAKE IN ORION HEALTH'S POPULATION HEALTH MANAGEMENT BUSINESS BY INVESTING ABOUT $20 MILLION OF EQUITY
* ALL FIGURES IN NZ$