Healius rebound continues after AGM reset and chair exit

The news:Pathology company Healius is enjoying its second day of solid gains since announcing a corporate reset and the ousting of chair Jenny Macdonald.

The numbers: HLS shares were up 9.2% to $1.545 by 1:40pm AEDT after gaining more than 5.4% yesterday.

Healius' value had shrunk by roughly $2 billion in two years, as its price tanked more than 75% from $5.13 in December 2021 to as low as $1.18 last week. Last Wednesday, HLS shares crashed 33% in the wake of a heavily discounted share issue aimed at reducing debt and appeasing lenders, the Australian Financial Review reported.

The context: Macdonald had been chair of the company since September 2022. Healius, previously known as Primary Healthcare, runs roughly 2000 pathology collection centres, 95 testing labs, 150 medical imaging locations and employs more than 10,500 people.