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By 14 January, 2017July 13th, 2023ASX Announcements, General News

Austco Communication Systems Completes Sale of CellGuard Business

23 December 2016

Further to the announcement on 7 November 2016, Azure Healthcare Limited (ACN 108 208 760) (ASX: AZV) (Azure or the Company) is pleased to announce that its wholly owned subsidiary Austco Communication Systems Pty Ltd (ACN 009 195 984) (Austco) has today completed the sale of the CellGuard business to a private entity (the Transaction).

The gross consideration for the Transaction of $1,000,000 (which was subject to customary adjustments), comprised an upfront cash payment on completion. Proceeds from the Transaction will be used by the Company to strengthen the Group’s balance sheet.

The divestment of the CellGuard business forms part of the Company’s ongoing strategic restructuring programme, to realise operating efficiencies from the divestment of non-core business streams and consolidate focus on Azure’s core operations in the healthcare sector.

Commenting on the Transaction, Azure’s Chief Executive Officer, Mr Clayton Astles said, “The completion of the CellGuard sale progresses the Group’s strategy to maximise investor value through the rationalisation of non-core assets, and allocate capital to our highest returning opportunities in healthcare communication systems and clinical workflow solutions”.


For further information please contact:

Mr Clayton Astles
Chief Executive Officer
Telephone AUS: 61 411 531 170
Telephone US: +1 416 565 7457

Mr Jason D’Arcy
Company Secretary
Telephone AUS: +614 1767 7732
Telephone US: +1 214 930 2233

About Azure Healthcare Limited (ASX:AZV)

Azure Healthcare Limited is an international provider of healthcare communication and clinical workflow management solutions. The company is headquartered in Australia, has subsidiaries in six countries and supports healthcare facilities through our global reseller network which includes growing markets in health, aged care and remand care. Azure Healthcare services markets including Australia, New Zealand, Canada, UK, USA, Asia and the Middle East. For further information please refer to the Company’s website