Foundation Healthcare
Newcastle Herald
Tuesday June 5, 2001
FOUNDATION Healthcare (FNC) announced on Friday the sale of its diagnostics assets to strategic partner Sonic Healthcare. Foundation will receive $32million on what Wilson HTM believes will be the first of three asset sales to be announced over the next two months as part of FNC's expansion into ophthalmology (eyes). `Foundation is suffering along with a number of other industry consolidation players as the market seeks clear evidence before re-rating the stock,' says the broker, which argues the share price is likely to recover to $2.25-$2.50 once the ophthalmology deal is settled.
© 2001 Newcastle Herald
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