John Wylie’s Tanarra Capital wants a major overhaul at ailing pathology group Healius, saying the business is being run “extremely poorly” and management and the board do not have enough “skin in the game”.

Healius shares tumbled 33 per cent on Wednesday to a 24-year low of $1.225, after resuming trade following a rights issue at a hefty discount to reduce debt levels and relieve pressure from the banking syndicate.