Australia: Paragon Care sells capital business

Shane Tanner, chairman, Paragon Care

Healthcare equipment provider Paragon Care is to sell its legacy capital business to Cabrini Health for A$4.5m (US$3.2m). The divested Axis Health business generated sales of approximately A$20m and pre-tax losses of A$4m-A$5m during the 2018/19 financial year. As a consequence of the divestment, Paragon said that it will incur a non-cash write-down of approximately…

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