Prenetics to divest ACT Genomics to Delta Electronics in $71.78M transaction

Prenetics (PRE) Global has entered into a definitive agreement to divest its ownership in ACT Genomics Holdings to Delta Electronics. The transaction regarding Delta’s acquisition of up to 100% ACT Genomics’ shareholdings is valued at up to $71.78M. Prenetics, holding a majority stake in ACT Genomics, will receive a gross proceed of approximately $46M in cash post-closing of the transaction and subject to customary release conditions. With a cash balance of $44M, this divestment bolsters Prenetics financial position, increasing its pro-forma cash reserves to approximately $86M and with $117M pro-forma short term assets, while maintaining a debt-free balance sheet. ACT Genomics’ expertise in clinical diagnostics and next-generation sequencing is expected to complement Delta’s existing healthcare solutions portfolio, fostering new synergies and growth opportunities in the precision medicine market. The divestment of ACT Genomics marks the completion of Prenetics’ strategic transformation, addressing previous investor feedback regarding business complexity while positioning the company for accelerated growth in the high-margin consumer health market. The transaction enables Prenetics to simplify its investment thesis, enhance financial flexibility, accelerate growth focus, and optimize resource allocation.