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Australia’s EBOS (EBO) to acquire LifeHealthCare for $838m

By Andreas Ismar

09:35, 9 December 2021

Equipment and medical devices in a hospital
Equipment and medical devices in a hospital – Photo: Shutterstock

Australia’s pharmaceutical wholesaler EBOS plans to acquire LifeHealthCare for AUD1.2bn ($838m) to scale up its medical device business in the Asia-Pacific region, including entry into Southeast Asia.

LifeHealthCare is one of the largest distributors of third party medical devices in Australia, New Zealand, and Southeast Asia. Under the deal, EBOS will acquire 100% of LifeHealthCare’s businesses in Australia and New Zealand and 51% of Asian unit Transmedic.

“The acquisition of LifeHealthcare represents an important step in EBOS’ medical devices strategy, providing greater exposure to this high growth sector as well as providing a measured entry into South East Asia,” EBOS CEO John Cullity said in a statement.

Funding via share placement, loan

EBOS will finance the acquisition through AUD642m share placement, AUD100m in non-underwritten share offering to retail investors, as well as AUD540m in term loan.


16,080.90 Price
+0.500% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0


2,004.85 Price
-1.180% 1D Chg, %
Long position overnight fee -0.0198%
Short position overnight fee 0.0116%
Overnight fee time 22:00 (UTC)
Spread 0.50


0.68 Price
+4.520% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030

Trade in EBOS shares was suspended on Thursday due to the planned placement. On Wednesday, it ended up 1.4% to AUD34.7.

“The acquisition aligns with our strategy to build a medical devices platform, and provides an opportunity for future growth across existing and adjacent therapeutic areas,” said Cullity.

The acquisition is expected to be completed in the first half of 2022.

Read more: Australia’s Vulcan Energy (VUL) up on Volkswagen supply deal


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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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