Healthscope selling pathology businesses

Healthscope will sell its Australian pathology operations for $105 million, which will allow it to focus on its hospital business.

Hospitals operator Healthscope will sell its Australian pathology operations for $105 million to private equity manager Crescent Capital Partners.

The deal comprises of $92.5 million in cash and a promissory note of $12.5 million and will also include the transfer of Healthscope's six skin clinics to Crescent.

Healthscope chief executive Robert Cooke said the company's 550 collection centres and 31 pathology laboratories have been operating in challenging market conditions and the July sale will allow management to focus on its hospital business.