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Ramsay also launched on Thursday a capital raising to generate A$260 million (US$214.97 million) to be used to reduce debt and position the company for future growth.
Managing director Christopher Rex said the group had been researching acquisition opportunities in Europe and had its eyes on assets in one particular country.
"I'd prefer not to detail (which country) specifically, given that it's like an open invitation to anybody who wants to sell something to put their prices up because the Aussies are coming to town," he told analysts.
"But it is one where we are confident that the market characteristics are such that we could thrive and prosper."
The acquisition would be in the hospital sector, and could be announced within the next 12 months, Mr Rex said.
"The strategic opportunity there is not a big bang, but a roll up of the geographic strategy at prices which, partly as a result of the GFC (global financial crisis) but partly due to the innate nature of what's for sale, are at quite attractive prices."
Ramsay's core business is in Australia and Indonesia. It entered the UK market in September 2007 with the acquisition of a private hospitals operator.
Ramsay posted net profit for the year to June 30 of A$106.47 million, up from A$92.2 million in the prior year.
Excluding A$39.9 million of costs related to deferred non-cash rent expense from its UK hospitals and restructuring and integration costs, core net profit was up 18.9 per cent on last year to A$146.4 million.
Ramsay forecast core net profit growth between 12 and 14 per cent for 2009/10, including the impact of its capital raising.
The group is to conduct an institutional placement of new shares to raise approximately A$220 million, underwritten at a minimum price of A$10 per share, with the final price to be determined by bookbuild.
A non-underwritten share purchase plan is expected to raise a further A$40 million.
Ramsay shares are in a trading halt at A$10.79, and expected to resume trading on Friday.
The equity sale will reduce Ramsay's net debt to A$1.12 billion, the company said.
Ramsay declared a fully franked final dividend of 21.5 cents, bringing the full year dividend to 38 cents, up from 32.5 cents last year.
(AAP) bl
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