Life Healthcare CEO says investors thought R14bn business was worth zero
The group plans to return the net proceeds to shareholders within 12 months of completing the Life Molecular Imaging deal
13 January 2025 - 07:58
UPDATED 13 January 2025 - 23:34
Just a month after returning R10bn to shareholders Life Healthcare, one of SA’s largest private hospital groups, has signed a R13.9bn deal to sell its Life Molecular Imaging (LMI) to Lantheus Radiopharmaceuticals UK, with the proceeds set to be returned to shareholders.
The deal also marks a major upside for shareholders after the group invested just $70m (R1.3bn) in the business since buying it. The JSE-listed group will receive $350m upfront, with a potential to earn a further $400m linked to milestones of future sales of LMI products up to 2034, it said on Monday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.