June 15 (Reuters) - Healius Ltd HLS.AX :
* SALE OF MEDICAL CENTRES FOR $500 MILLION
* ENTERED BINDING AGREEMENT TO SELL HEALIUS PRIMARY CARE BUSINESS TO FUNDS MANAGED BY BGH CAPITAL
* WILL RETAIN DAY HOSPITALS AND IVF WHICH CURRENTLY SIT WITHIN ITS MEDICAL CENTRES DIVISION.
* UP TO $75 MILLION OF PROCEEDS MAY BE DEFERRED IF EARNINGS OF DENTAL CLINICS HAVE NOT RETURNED TO PRE-COVID-19 LEVELS WHN DEAL CLOSES
* ON COMPLETION OF DEAL, EXPECTS TO RECEIVE CASH PROCEEDS OF ABOUT $470 MILLION
* SUCCESSFULLY SIGNED REFINANCE OF ITS SYNDICATED BANK DEBT FACILITY OF $500 MILLION WHICH WAS DUE TO MATURE IN JANUARY 2021
* COMPLETION OF TRANSACTION EXPECTED BEFORE END OF 2020
* WILL PROVIDE HEALIUS PRIMARY CARE CERTAIN SERVICES ON COMMERCIAL, ARM'S-LENGTH TERMS FOR 12 MONTHS FOLLOWING COMPLETION
* WILL BE LOOKING TO RESET ITS COST BASE BY ENTRENCHING A NUMBER OF SHORT-TERM COST REDUCTIONS
* SYNDICATED BANK DEBT FACILITY INCREASED BY $70 MILLION TO $570 MILLION, MATURITY EXTENDED TO JAN 2024