CAE Announces Sale Of Its Healthcare Business To Chicago-Based Madison Industries For An Enterprise Value Of CAD$311M
Portfolio Pulse from Benzinga Newsdesk
CAE Inc. has announced a definitive agreement to sell its Healthcare business to Madison Industries for an enterprise value of CAD$311 million. The sale is expected to close by the end of fiscal year 2024, subject to regulatory approvals. The proceeds will be used to accelerate deleveraging and support CAE's focus on technology advancement, market leadership, and cost optimization within its core training and simulation markets.
October 24, 2023 | 1:59 pm
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The sale of CAE's Healthcare business to Madison Industries could potentially free up resources for CAE to focus on its core training and simulation markets.
The sale of the Healthcare business could be seen as a positive move for CAE as it allows the company to focus on its core markets. This could potentially lead to improved performance and growth in these areas, which could positively impact the company's stock price in the short term.
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