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Private hospital operator Healthscope will sell its Asian pathology business for $ 279 million to entities controlled by funds managed by TPG Capital Asia.
The selling price was 15.3 times earnings before interest, taxes, depreciation and amortization (EBITDA), the Melbourne-based company said in a statement Monday.
Asian pathological operations include 39 pathology laboratories in Singapore, Malaysia and Vietnam.
Photo: Louise Kennerley
She plans to close the transaction by the end of August and record a non-recurring gain of $ 165 million in her 2018 financial results. 1919, the proceeds of the sale to be used to repay the debt and finance its plans for expansion.
In May, the company reported that it would sell its hospitals and rent them out by trying to retain the two bidders for the company. Pathology operations in Asia include 39 pathology laboratories in Singapore, Malaysia and Vietnam operating under the Gribbles Pathology and Quest Laboratories brands. They contributed EBITDA of $ 18.2 million in fiscal 2017 and $ 9.6 million in the first quarter of this year.
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