Australian Clinical Labs (ACL AU) / Healius (HLS AU): Round 2?

• Reportedly, Australian Clinical Labs (ACL AU) and Healius (HLS AU) may reload a merger.

• The 2023 merger of the second and third-largest pathology plays was blocked by the ACCC. Any follow-up merger will similarly be blocked unless the combined entity jettisons certain ops.

• Since the collapse of the merger, Healius has sold its diagnostic business; Crescent Capital has exited ACL; and Capitol Health (CAJ AU) and Integral Diagnostics (IDX AU) merged.