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Healthcare Enterprise Group

  • BY: Andrew Hore |
  • POSTED: 31/05/2009 |

Healthcare Enterprise Group lost £20m in the 16 months to June 2008 and it is becoming an investment holding company.

Healthcare Enterprise lost £13.3m on continuing activities in the 16 months to June 2008 and a further £6.69m on discontinued activities. The turnover from continuing activities was £793,000, which was all generated by Ebiox.

Most of the loses relate to goodwill write-offs. The cash outflow was around one-tenth of the loss. Net debt was £2.4m at the end of June 2008.

Healthcare Enterprise has borrowed more since the end of 2008. It intends to swap those loans for shares in itself and some of its investments.

The company owns 95% of decontamination products supplier Ebiox, 100% of women’s health company Reproductive Sciences and 34% of distributor First Aid Holdings.

Ongoing costs of the holding company will be minimal.

The shares were suspended on 22 December 2008 at 0.36p a share, which values the company at £1.58m. The interim figures need to be published before the suspension is lifted.

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