Healius sells Agilex Biolabs for $160M
- Healius signed a binding agreement to sell Agilex Biolabs for an enterprise value of $160 million.
- The deal is expected to deliver $155 million in net cash proceeds, positioning Healius in a net cash status upon completion.
- The divestment allows the company to refocus capital and management attention on growing its core pathology division.
Healius (ASX:HLS) entered into a binding agreement to sell its subsidiary Agilex Biolabs for an enterprise value of $160 million.
The transaction represents a multiple of 19.8 times Agilex Biolabs' FY26 earnings before interest, taxes, depreciation, and amortisation (EBITDA).
"The sale provides customers and team members of Agilex Biolabs with the opportunity to join an established and global business in Novotech, which has expertise in providing services to major biotechnology and pharmaceutical customers," said Healius Managing Director and CEO Paul Anderson.
Net cash proceeds are expected to reach approximately $155 million after transaction costs, with no tax incurred.
The sale is anticipated to be completed during the second half of FY27 following approvals from regulators, including the Foreign Investment Review Board.
Following the announcement, the Healius share price was unchanged at $0.36.
Healius commenced exploring a sale in May following several unsolicited approaches from interested parties.
The standalone business unit operates independently, ensuring its sale will not disrupt the remaining pathology operations.
