Business
Investment in Healthcare Division by Inflexion
Investment in Healthcare Division by Inflexion.
About this update from Globaldata Plc
[{"type":"text","content":"\n\n21 December 2023\n \n\n \nFOR IMMEDIATE RELEASE \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (\"UK MAR\").\n \nGlobalData Plc\n(AIM: DATA; \"GlobalData\", \"the Company\", \"the Group\")\n \nGlobalData announces a Group reorganisation and enters into a transformational investment agreement with Inflexion for a significant minority stake in its Healthcare division\n \nHighlights\n· Launch of new growth plan and Group reorganisation to operate across three customer-focused divisions - Healthcare, Consumer, and Technology.\n· Inflexion acquires a 40% shareholding in GlobalData's Healthcare division at a valuation of £1,115m, which represents a 22x multiple of June 2023 LTM EBITDA for the division (on a standalone basis).\n· This compares to a market capitalisation of £1,352m for the entire GlobalData Group (at the close of market on 20 December). The Healthcare division represented 36% of GlobalData Group's June 2023 LTM revenue.\n· GlobalData Plc expects to receive net cash proceeds of approximately £434m, which will provide flexibility for accelerated value-creating M&A across the Group.\n· GlobalData Plc will own the remaining 60% of GlobalData Healthcare, which will continue to be a fully consolidated subsidiary of GlobalData Plc.\n· Transaction is expected to close during Q2 2024.\n \nMike Danson, CE...