Life Healthcare has completed the sale of its Life Molecular Imaging (LMI) business to US-based Lantheus Holdings. All required conditions for the deal have been met.
This follows last year’s sale of Alliance Medical Group, marking another step in Life Healthcare’s plan to focus on healthcare services in Southern Africa. The company will still manufacture and distribute LMI products in Africa. Shareholders could earn more money in the future based on LMI’s performance until 2034.
CEO Peter Wharton-Hood said, “We are pleased to unlock further value for our shareholders while refocusing our portfolio to grow returns, market share and revenue in the southern African market. We look forward to seeing the progress of LMI under the custodianship of Lantheus, which will provide further benefit to shareholders through future earnouts.
“Going forward, our commitment remains on executing our strategy to grow, drive and optimise the business. We are fully dedicated to leveraging every opportunity to achieve our objectives and position ourselves for sustained long-term success.”
Life Healthcare expects about $200 million (R3.6 billion) from the deal, which may be returned to shareholders within a year.
The transaction is set to finalize by 21 July 2025.
