Highlights

• Healius will sell Agilex Biolabs for an enterprise value of AU$160 million under a binding agreement with Novotech.
• The healthcare group expects to receive about AU$155 million in cash after separation and transaction-related costs.
• Completion is expected in H2 FY2027, with Healius anticipating a net cash position once the transaction is finalised.

Healius Limited (ASX: HLS) moved into the spotlight on 25 September 2026 after announcing the planned sale of its Agilex Biolabs business. The company’s shares traded at a (CMP) of AU$0.395, climbing 9.7% as investors assessed the financial impact of the proposed transaction. Under the agreement, Agilex will be acquired by a subsidiary of Novotech Health Holdings for an enterprise value of AU$160 million.

Transaction Delivers Meaningful Cash Inflow

The agreed consideration values Agilex at 19.8 times its FY2026 EBITDA on a pre-AASB 16 basis. The business recorded FY2026 EBITDA of AU$10.7 million before an AU$2.6 million property lease adjustment associated with AASB 16.

After accounting for separation expenses and transaction costs, Healius expects the deal to generate approximately AU$155 million in cash proceeds. The company also expects no tax expense to arise from the disposal.

Healius began reviewing a potential sale of Agilex in May 2026 after receiving several unsolicited approaches. Management determined that selling the operation at an attractive valuation could release capital while allowing the group to direct greater attention toward its core pathology activities.

Financial Position Could Strengthen

The transaction could materially alter Healius’ balance-sheet position. Following settlement, the company expects to move into a net cash position, providing greater financial flexibility. Management has yet to determine how the sale proceeds will be used and intends to provide additional information closer to completion. Agilex operates as a separate business within the wider group, so the transaction is not expected to interfere with Healius’ pathology operations.

Regulatory Approvals Remain the Next Step

Completion remains conditional on customary regulatory requirements, including approval from the Foreign Investment Review Board and the Australian Competition & Consumer Commission.

If the necessary conditions are satisfied, Healius expects the transaction to close during H2 FY2027. Market attention may now shift toward regulatory progress, the eventual use of the expected AU$155 million proceeds and the company’s ability to strengthen performance across its pathology operations. For HLS, the proposed divestment represents a significant portfolio change that could simplify the group, strengthen its financial position and concentrate management resources on its core healthcare operations.

Note- All data presented is based on information available at the time of writing.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au