SIGMA Healthcare Limited has today announced a deal for the sale of "certain hospital operations and assets" of its subsidiary, Central Healthcare Services Limited (CHS).
Under the terms of the agreement, Sigma will sell the intellectual property relating to the CHS trademark and logo, Sigma's hospital services and designated hospital inventory to Clifford Hallam Healthcare Limited (CH2).
The actual CHS entity is retained by Sigma, and will be renamed Sigma Healthcare Logistics Pty Ltd, for ongoing operations in relation to third party logistics and other services, the company said.
Sigma CEO Vikesh Ramsunder said the sale was in line with the company's strategy announced in Sep 2022.
"This disposal exits a very low margin sector, simplifies our business, releases working capital and allows us to focus on building scale in our core pharmacy wholesale and third party logistics operations," Ramsunder said.
The deal is expected to be finalised on 31 Mar.
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