Private hospital group Life Healthcare said on Thursday it has inked a deal to sell its UK diagnostics business Alliance Medical that values it at R21.3 billion, and it intends to return the net proceeds of sale to shareholders.
Life Healthcare said it intends to return the net proceeds to shareholders, the majority by way of a special dividend. It agreed to acquire Alliance Medical in 2016 for as much as £800m , and an initial cash consideration of £553 million. This provided a strong position for diagnostic imaging, molecular imaging, and radiopharmaceutical manufacturing across the UK and Europe.A deep dive into the big business story of the week, as well as expert analysis of markets and trends.
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