Healius Limited's strategic move to maximize shareholder value

Healius Limited (ASX:HLS) has strategically decided to sell Lumus Imaging to funds advised by Affinity Equity Partners for an enterprise value of $965.0 million on a cash, debt, and equipment-lease free basis. The estimated cash proceeds after repayment of equipment leases and any closing adjustments are approximately $835 million, with net proceeds in excess of $800 million after all transaction, separation, and other costs. This move follows a strategic review of Healius' structure and assets with the objective of maximizing shareholder value and ensuring a sustainable capital structure to support investment and ongoing growth.

Executive Commentary on the Sale of Lumus Imaging

The sale of Lumus Imaging is a significant step for Healius Limited as it aligns with our commitment to maximizing shareholder value and ensuring a sustainable capital structure. This strategic move allows us to focus on being a leading provider of pathology services in Australia and a rapidly growing bioanalytical laboratory services business in Agilex Biolabs. We are confident that this sale will not have a negative impact on our remaining business and will result in materially lower capex requirements. Furthermore, Healius plans material reductions in head office, infrastructure, and other costs, reflecting its streamlined operating structure. We are committed to improving the volume and quality of Pathology revenue and becoming more efficient in laboratories, and we intend to distribute surplus proceeds to shareholders in a tax-efficient manner.

Summary of Healius' Sale of Lumus Imaging and Outlook

Healius Limited (ASX:HLS) has announced the sale of Lumus Imaging to funds advised by Affinity Equity Partners for an enterprise value of $965.0 million, with estimated cash proceeds in excess of $800 million. Post the sale, Healius will continue to focus on being a leading provider of pathology services in Australia and a rapidly growing bioanalytical laboratory services business in Agilex Biolabs. The company aims to improve the volume and quality of Pathology revenue, become more efficient in laboratories, and reduce its corporate cost base. With a significantly improved balance sheet and a material net cash position, Healius intends to execute its redefined pathology strategy and distribute surplus proceeds to shareholders in a tax-efficient manner. The sale of Lumus Imaging is expected to support Healius' ongoing growth and operations, allowing the company to prioritize capital management and focus on its core business.