Oct 24 - Canada-based CAE said on Tuesday it would sell its healthcare business to Chicago-based Madison Industries for C$311 million as the tech firm strives to streamline its operations.
CAE, which also provides solutions to civil aviation, and defense and security sectors, said the deal is expected to close before the end of fiscal year 2024. In August, CAE's healthcare unit posted revenue of C$42.40 million for the quarter through June, up from C$39.60 million from a year earlier. The unit contributes about 4% to the company's total revenue, as per LSEG data.
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