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#Business sale
Added 2 months ago

11 Jun 20: ACCC clears the sale of ophthalmology laser and ultrasound business to Lumibird, clearing the final major hurdle for the $100m sale.  The transaction will complete on 30 Jun 2020.  "To the extent there are conditions outstanding they are minor in nature and within control of the parties."  

At the current share price $0.60 [144m shares], the market cap is only $88m, below the $100m cash they will receive.

After the sale, the fast growing iTrack business will be retained as well as the 2RT business.

FY19 the Ellex iTrack and 2RT businesses generated Rev $16.1m and EBITDA loss (before unallocated costs) of $5.7m.

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