Wellnex Life (ASX: $WNX) Company Update

Wellnex Life Limited (ASX: $WNX) has reported achieving a trading profit in February from normal operations, following the successful acquisition of Pain Away. The acquisition has resulted in substantial revenue and margin improvements, with efficiencies of approximately $1.5 million per annum identified and implemented in February. The company has also secured a binding commitment from a strategic investor to increase their placement from $2 million to $3 million, reflecting an 11% premium to the last traded price. Wellnex is set to release its half-year accounts by Wednesday 6th of March, incorporating the impact of the Pain Away acquisition and associated corporate activities.

Executive Commentary

The acquisition of Pain Away has been a significant milestone for Wellnex Life, transforming the financial profile of the company and driving operational efficiencies. We are pleased to report a trading profit in February, with record sales of Wellnex's owned brands and a positive outlook for our contract manufacturing purchase orders. The increased investment commitment from Pearl Funds Management further demonstrates confidence in our business since the acquisition of Pain Away. We are focused on finalizing our half-year accounts to accurately reflect the impact of the acquisition and associated activities, and we look forward to the continued growth and scale of Wellnex Life.

Summary

Wellnex Life (ASX: $WNX) has experienced a positive transformation following the acquisition of Pain Away, with substantial revenue and margin improvements leading to a trading profit in February. The company has identified and implemented efficiencies resulting in approximately $1.5 million in annual savings. Record sales of owned brands and a strong outlook for contract manufacturing purchase orders indicate continued growth. The binding commitment from a strategic investor to increase their placement reflects increased confidence in the business. Wellnex is focused on finalizing its half-year accounts to accurately reflect the impact of the acquisition and associated activities. The acquisition of Pain Away has positioned Wellnex for continued financial growth and scale, reinforcing its position as a major participant in the healthcare market segment.