Pro Medicus, a healthcare imaging software business, has seen a significant increase in its share price, prompting the company’s founders to start selling off their stock. Anthony Hall and Sam Hupert, the co-founders of Pro Medicus, have enlisted the help of Unified Capital Partners to find buyers for 2 million shares at $88 apiece. The trade represents just under 2 percent of the company and is being offered to existing long-term shareholders.
Having initially held 40 percent of the business each following the company’s IPO in 2000, Hall and Hupert have been cautious in selling their shares over the past 23 years. However, with a 62 percent increase in Pro Medicus’ share price this year alone, the founders have decided to trim their positions.
In the 2023 financial year, Pro Medicus reported a revenue of $124.9 million, marking a 33 percent increase from the previous year. The company also recorded an after-tax profit of $60.5 million, representing a growth of 36.5 percent. These strong financial results have contributed to the company’s market capitalization of $9.2 billion.
While the founders are selling a portion of their stock, they still hold approximately 24 percent each, which is currently valued at $2.2 billion per founder. By divesting some of their shares, Hall and Hupert are not only capitalizing on the surge in Pro Medicus’ share price but also providing an opportunity for long-term shareholders to increase their stake in the company.
Overall, the founders’ decision to sell their stock reflects their strategic approach to managing their investments in Pro Medicus. This move not only benefits the founders but also allows for potential growth and increased ownership for existing shareholders.
Frequently Asked Questions (FAQ)
Q: How much stock are the Pro Medicus founders selling?
The founders are selling 2 million shares of Pro Medicus’ stock.
Q: At what price are the shares being sold?
The shares are being sold at $88 apiece.
Q: What percentage of the company does the trade represent?
The trade represents just under 2 percent of the company.
Q: How much revenue did Pro Medicus generate in the 2023 financial year?
Pro Medicus reported a revenue of $124.9 million in the 2023 financial year.
Q: How much profit did Pro Medicus make in the 2023 financial year?
Pro Medicus recorded an after-tax profit of $60.5 million in the 2023 financial year.
Q: What is the market capitalization of Pro Medicus?
Pro Medicus has a market capitalization of $9.2 billion.