Ellex Medical Lasers (ASX:ELX) to sell its lasers & ultrasound business

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by Rachael Jones

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Last Updated: 23/01/2020 11:31 AM

Ellex Medical Lasers (ASX:ELX) is to sell Ellex Lasers & Ultrasound business for $100 million in cash to the Lumibird Group SA.

Ellex is a world leader in medical technologies for the diagnosis and treatment of eye disease.

Lasers and ultrasound accounted for 80 per cent of group sales.

The board is committed to the returning majority of net funds received to shareholders.

Ellex Medical Lasers (ASX:ELX) are trading 38.1 per cent higher at 84 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.