Healius' Cost and Efficiency Initiatives Yet to Fully Flow Through

In 2018, the former Primary Healthcare rebranded itself as Healius to signify the strategic turnaround underway. Healius is looking to new sources of strategic growth as well as dealing with prior underinvestment in infrastructure. There is much to fix in the business, and we anticipate it will take a few years before significant margin improvements are made in the base pathology businesses. Healius; sale of its medical centers and Montserrat day hospitals to focus on redirecting capital toward infrastructure upgrades and its pathology business is viewed as a positive strategic step. The sale of Lumus Imaging also simplified the business and shored up the balance sheet.