Healius Limited (ASX:HLS) has agreed to sell its Primary Care business to funds managed by BGH Capital for $500 million. The highlights include:
- Healius plans to use $470 million in cash it gets after the deal costs for the growth of dental clinics and pathology centres and strengthen the balance sheet
- However, proceeds may be deferred by $75 million if earnings do not return to pre-coronavirus levels
- HLS has also agreed to refinance its syndicated debt facility increasing it to $570 million and extend its maturity to January 2024.
The firm has stated that its medical centers have witnessed strong revenues during COVID-19 period boosted by telehealth services while Dental and IVF are shifting back to pre-COVID levels after lifting of clinical restrictions.
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