Ascendis Health has had a rough few months as it battles with a debt hangover after an aggressive acquisition strategy - at a time when it can no longer rely on its main shareholder. However, the company may have found some relief in a recent unsolicited offer for its Cyprus business as it battles with net debt of R4.4bn with a maximum earn-out of R1.3bn over three years. The health and wellness company, which produces brands such as skin-care product Nimue, probiotic Reuterina and cold and flu medications Sinucan and Fluend, as well as medical devices and animal health products, has seen its share price tumble by more than 58% in the past year and more than 43% since it released its annual results in September last year. Founded by Karsten Wellner in 2008, Ascendis began its foray overseas in 2015, buying four businesses in Europe: Remedica in Cyprus, Farmalider in Spain, Scitec Nutrition in Hungary and Sun Wave Pharma in Romania. CEO Thomas Thomsen, who took over from Wellner in M...
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.