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Abano settles sale of orthotics business

Spice Communications Group

Abano Healthcare Group (NZX:ABA.NZ - News) has today confirmed settlement of the sale of its orthotics business, the Orthotic Centre, to private investors, as announced on 25 November 2014.

This was the last remaining business in Abano’s Rehabilitation sector and the Company will now have three operating sectors - Dental, Audiology and Diagnostics.

Proceeds from the sale will be used to reduce debt and then reinvested into Abano’s growth businesses, in particular, dental.