GenesisCare’s valuation has slid from a debt-fuelled peak of $5 billion to just $434 million, according to an independent expert’s report highlighting a stunning fall for a business once hailed as one of Australia’s most promising healthcare groups.
The valuation – of between $434 million and $541 million – was commissioned as part of a compulsory share buyback being pursued by the cancer care provider’s new owners, a consortium of financiers led by Oaktree Capital Management.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
