Healius is set to roll out the red carpet for a private equity dealmaker who only a few years ago it kept at bay as part of an unsolicited buyout bid.
Healius’ other major shareholders are not expected to get in the way. They have their sights set on the current board and management team, reeling with the company financial performance, capital allocation and financial position, and wan to see a sharp turnaround.He formerly worked at Swiss-based private markets investor Partners Group, where he spearheaded that group’s local private equity team and run at Healius in early 2020.At that time, Partners Group gained control of a 15.
Instead, it will be pitched as an effort to try to turnaround the group’s financial performance and work on ways to ease investor concerns about its balance sheet and capital allocation. Healius is ripe for a shake-up. The group’s pathology earnings have been hit as COVID-19 testing volumes unwound and not replaced by a pick-up in doctor-referred tests, which is an industry issue.However, Healius hasn’t been able to shrink its fixed cost base fast enough and also stretched its balance sheet to buy lab testing business Agilex Biolabs, which has underperformed since acquisition in February last year.