Johannesburg – Ascendis Health today reported a resilient performance for the year to June 2022 as revenue from existing operations increased by 4% to R1.9 billion and normalised EBITDA grew by 136% to R66 million.
September 28, 2022
Acting CEO Carl Neethling said the group has gone from being burdened with mounting debt of almost R8 billion a year ago and facing business rescue, to entering the 2023 financial year with a near complete debt solution. This follows the successful completion of the group recapitalisation in October 2021, further debt restructuring and corporate […]
Momentum shift following decision to retain key asset
July 26, 2022
Johannesburg – Healthcare group Ascendis Health plans to raise R101.5 million in a rights offer to capitalise on growth opportunities in its medical devices and consumer health businesses, and to pay down debt. Ascendis will issue 143 million new shares at an undiscounted offer price of 71 cents per share. The rights offer is being […]
Johannesburg – Ascendis Health has reached agreement for the disposal of its pharma business to Austell Pharmaceuticals for R410 million.
July 19, 2022
The disposal of the Ascendis Pharma business will significantly reduce the group’s debt burden. The net purchase price will be set off against the R590 million loan which Ascendis concluded with Austell Pharmaceuticals in May 2022 to repay lenders. Austell Pharmaceuticals is a leading South African, 100% black-owned private pharmaceutical company. In February 2022 Ascendis […]
Johannesburg – Ascendis Health has concluded a R590-million loan agreement with Austell Pharmaceuticals to repay current lenders in full and fund short-term working capital requirements.
May 17, 2022
Austell Pharmaceuticals is the largest 100% black-owned pharmaceutical company in South Africa. The refinancing of the loan facilities follows notice from the current lenders, Apex Management Services and Pharma-Q Holdings, that their R550-million loan advanced on 1 February 2022, plus accrued interest, was immediately payable. This arose after last week’s appointments of three new non-executive […]
Company will focus on Consumer Brands following recapitalisation
Johannesburg – Ascendis Health plans to dispose of three businesses to settle outstanding debt of R550 million plus interest, and generate cash for investment in the expansion and rebuilding of the group. Agreements have been reached for the disposal of Ascendis Medical, Ascendis Pharma and the Nimue business in three separate transactions. Following these disposals […]