Race for Healius’ $700m Lumus business down to just three as IFM exits

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 90%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

The company, led by Paul Anderson, has had an embarrassing three years, starting with a poorly priced acquisition of Agilex Biolabs in 2021.

Hopes at embattled healthcare group Healius of attracting a big turnout of bidders for its Lumus Imaging business have been dealt a blow with the exit of IFM Investors., has told Healius’ advisor UBS that it is no longer interested in bidding. And that leaves just three in the race.

Of note, PEP’s commitment to the process is “lukewarm” and there was no certainty it would lob a final offer, according to sources close to the Sydney buyout firm. It is understood UBS banker Tom Linguard asked the three bidders to reconfirm their first-round offers this week. Binding bids are due September 17, sources said. The acquirers have all been offered a $400 million staple debt package, pegged at 4½-times leverage and underwritten by UBS, Commonwealth Bank and Westpac.

Macquarie’s research analysts have said Lumus could fetch between 10 times and 12 times the EBITDA forecast for the 2025 financial year, implying a price tag of $590 million to $710 million. Imaging pulled in a third of Healius’ EBIT to June 30, and of course, selling it would hit group earnings. But the lost earnings – on Macquarie analysts’ calculations – should be made up for by the debt reduction.

Lumus, whose 150-odd locations offer X-rays, ultrasounds, MRI and CT scans, mammograms, and other medical imaging services, posted $252.8 million in gross revenue for the December half. It runs at an 18 per cent EBITDA margin, making it $45.6 million over the six months.has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 2. in BR

Brasil Últimas Notícias, Brasil Manchetes