Health group Ascendis, which is dealing with a debt pile about 20 times its market capitalisation, may be able to hold onto its prized Remedica business after two private equity firms offered an alternative to disposals.

London-based investment firm Blantyre Capital and L1 Health Group, a long-term investor in the health sector, want the company to change its capital structure instead of selling off assets. If that goes ahead, Ascendis could put on hold plans to offload Remedica, its main driver of foreign earnings...

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