Healthcare company Healius (ASX:HLS)
is set to acquire bioanalytical laboratory Agilex Biolabs for an enterprise value of $301.3 million.
Agilex Biolabs' estimated calendar year 2022 revenue is within $36 to $40 million, with EBITDA between $14 and $16 million. The acquisition is subject to minimal conditions and is expected to complete at the end of January next year.
Healius views this as a long-term strategic acquisition that provides Healius with a platform for growth into the global clinical trials sector.
“We see Agilex as a long-term strategic acquisition that adds a global orientation to the Healius network. A business that is growing fast, in a fast-growing market. Agilex is well placed to realise a material step-change in earnings growth over the near to medium-term,” said Healius CEO Malcolm Parmenter.
Shares in Healius (ASX:HLS)
are trading 1.1 per cent lower at $5.22.