By Digifin Pty Ltd · About this coverage
Key Points
- Binding sale of Agilex Biolabs to Novotech subsidiary for A$160m enterprise value
- Pre-AASB16 multiple 19.8x FY2026 EBITDA; cash proceeds ~$155m after costs
- No tax expected on the transaction; Pathology operations unaffected
- Completion expected H2 FY2027 subject to FIRB and ACCC approval
- On completion Healius expects to be in a net cash position
About Healius (ASX:HLS)
Healius Limited is an ASX-listed healthcare company headquartered in Sydney. It provides specialty pathology services across Australia through a network of centres and more than 8,000 employees, serving consumers and referring practitioners.
Healius Limited (ASX:HLS) has entered a binding agreement to sell its wholly owned subsidiary Agilex Biolabs Pty Ltd to a subsidiary of Novotech Health Holdings Pte Ltd for an enterprise value of A$160 million.
On a pre-AASB16 basis, the transaction represents a multiple of 19.8x Agilex Biolabs' FY2026 EBITDA (FY26 EBITDA of $10.7 million less an AASB 16 property lease impact of $2.6 million). Cash proceeds are expected at about $155 million after separation and transaction costs, subject to typical closing adjustments for working capital, cash and debt, and Healius does not expect to incur any tax on the transaction. Completion remains subject to customary conditions including Foreign Investment Review Board and Australian Competition & Consumer Commission approval, and is expected during H2 FY 2027 if conditions are met. Healius said the sale will not affect Pathology operations and that on completion it will be in a net cash position, with further detail on use of proceeds closer to completion. UBS Securities Australia Limited is financial adviser and Mallesons is legal adviser.
Completion timing and regulatory clearances remain open. Intentions for sale proceeds are not yet specified.
Source: Healius Limited (ASX:HLS), 25 September 2026. Summary content supplied by Digifin Pty Ltd.
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