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CHARLOTTE, N.C. - Prenetics Global Limited (NASDAQ:PRE) announced Wednesday it has entered into a definitive agreement to sell its majority stake in ACT Genomics to Delta Electronics, Inc. (TWSE:2308), a $35.1 billion market cap technology company with a "GREAT" financial health score according to InvestingPro, for approximately $46 million in cash.
The transaction, valued at up to $71.78 million for 100% of ACT Genomics, will boost Prenetics’ pro-forma cash reserves to approximately $86 million and increase its pro-forma short-term assets to about $117 million, according to the company’s press release statement. Delta Electronics brings strong fundamentals to the deal, with a healthy current ratio of 2.14 and 12.29% revenue growth in the last twelve months.
Following the divestment, Prenetics will focus on its consumer health brands: IM8, CircleDNA, and Europa. The company has raised its fiscal year 2025 revenue outlook to $80-$100 million from the previous guidance of $73-$85 million, citing strong performance from IM8. Want deeper insights into healthcare companies’ valuations and growth potential? InvestingPro offers exclusive financial metrics and professional analysis tools.
"This transaction is a testament to the value we have built within ACT Genomics and marks an important milestone for Prenetics," said Danny Yeung, CEO and Co-Founder of Prenetics.
The company reported its consumer health business achieved $14.4 million in revenue during the first quarter of 2025, representing a 336.5% increase year-over-year. Its flagship brand IM8, launched six months ago, has acquired over 55,000 customers and generated $5.7 million in revenue during Q1 2025.
Prenetics maintains a 35% stake in Insighta, an early cancer detection company, which the company values at $70 million based on a recent investment by Tencent.
The transaction is subject to customary closing conditions. Delta Electronics, a Taiwan-based provider of power management and smart green solutions, is expected to integrate ACT Genomics’ clinical diagnostics capabilities into its healthcare solutions portfolio.
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