Source: Healius
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Healius (HLS) is set to acquire the entire issued capital of one of Australia’s leading bioanalytical laboratories, Agilex Biolabs
  • The transaction values Agilex at $301.3 million and is expected to be complete by the end of January
  • Healius hopes the acquisition provides it with a platform for growth and diversify its portfolio of global biotech, pharmaceutical and clinical research organisation customers
  • Healius’ shares have dipped 2.65 per cent, trading at $5.14

Healius (HLS) is set to acquire the entire issued capital of one of Australia’s leading bioanalytical laboratories, Agilex Biolabs.

The transaction values Agilex at $301.3 million and is expected to be complete by the end of January.  

Agilex employs over 100 scientific professionals across its Adelaide and Brisbane laboratories and provides end-to-end clinical trial needs to biotech and pharmaceutical companies across all major therapeutic areas.

Over the past 12 months, Agilex has expanded its scientific staff and is undertaking a facility expansion, with additional floor space in the building adjacent to its existing Adelaide operations. As at November 2021, Agilex’s planned work amounted to over $36 million, an increase of circa 55 per cent on June 2021 levels.

The billion-dollar company hopes the acquisition will provide it with a platform for growth and diversify its portfolio of global biotech, pharmaceutical and clinical research organisation customers.

Healius’ Managing Director and CEO, Dr Malcolm Parmenter, said the acquisition of Agilex is an exciting opportunity for Healius.

“We see Agilex as a long-term strategic acquisition that adds a global orientation to the Healius network,” Dr Parmenter said.

“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”.

Healius dipped 2.65 per cent, trading at $5.14 at 2:31 pm AEDT.

HLS by the numbers
More From The Market Herald

" Archer Materials (ASX:AXE) secures Hong Kong patent for quantum computing chip

Archer Materials (ASX:AXE) announces the grant of a Hong Kong patent for its 12CQ quantum computing…

" Podium Minerals (ASX:POD) completes $4.6m entitlement offer

Podium Minerals (POD) raises $4.6 million to progress its Parks Reef platinum group element project in…

" Horseshoe Metals (ASX:HOR) gets results from initial Horseshoe Lights RC program

Horseshoe Metals (ASX:HOR) has received results from the initial reverse circulation (RC) drilling program at its…

" Eden Innovation (ASX:EDE) completes US secured debt restructure

Eden Innovation (ASX:EDE) has completed refinancing of the two existing secured loans in the US.