Paragon Care Ltd
ASX:PGC
Paragon Care Ltd
Paragon Care Ltd. engages in supplying medical equipment to the health and aged care markets. The company is headquartered in Melbourne, Victoria. The firm provides medical equipment, medical devices and consumables for the Australian and New Zealand healthcare markets. Its product portfolio includes critical care, diagnostics, neonatal, medical products and consumables, orthopaedics, surgical, technology and connectivity, urology, veterinary and services. Its brands consist of Designs For Vision, Electro Medical Group, Immulab, Immuno, Insight Surgical, LabGear Australia, Lovell Surgical Solutions, Meditron, Medtech Solutions, Medtek, Paragon Care, Scanmedics, Surgical Specialties, Total Communications, Western Biomedical, Rem Systems Medical and Rem Systems Veterinary. The firm also offer equipment repair, maintenance and total equipment management through Paragon Care Service & Technology.
Paragon Care Ltd. engages in supplying medical equipment to the health and aged care markets. The company is headquartered in Melbourne, Victoria. The firm provides medical equipment, medical devices and consumables for the Australian and New Zealand healthcare markets. Its product portfolio includes critical care, diagnostics, neonatal, medical products and consumables, orthopaedics, surgical, technology and connectivity, urology, veterinary and services. Its brands consist of Designs For Vision, Electro Medical Group, Immulab, Immuno, Insight Surgical, LabGear Australia, Lovell Surgical Solutions, Meditron, Medtech Solutions, Medtek, Paragon Care, Scanmedics, Surgical Specialties, Total Communications, Western Biomedical, Rem Systems Medical and Rem Systems Veterinary. The firm also offer equipment repair, maintenance and total equipment management through Paragon Care Service & Technology.
Revenue: Paragon Care delivered underlying sales of $1.9 billion in 1H '26, showing resilience despite losing $78 million in revenue from the Infinity account and deflation of COVID drug sales.
Profitability: Underlying EBITDA reached $49 million, up 3.3% on the prior year. Statutory EBITDA was a loss of $0.4 million due to a full provision for the Infinity debt.
Net Profit: Underlying net profit after tax was $13.3 million, while the statutory result showed a net loss after tax of $21.3 million due to the Infinity provision.
Guidance Reconfirmed: Management reaffirmed full-year revenue guidance of around $3.6 billion and underlying EBITDA of $97–107 million.
Infinity Debt: The company has fully provided for the Infinity Group debt but remains active in pursuing recovery, expecting clarity in Q4.
Acquisitions: Several acquisitions were completed or announced (AHP Dental, Somnotec, Haju, and others), with M&A remaining a strategic focus, especially for Asia expansion.
Contract Wins: Paragon won a major Australian Defence Force contract (expected ~$40 million/year) and a significant Owens & Minor logistics contract.
Cash Flow & Net Debt: Cash flow from operations was negative $4.8 million due to seasonal inventory build, with net debt at $287 million and expected to fall to about 2x EBITDA by June (ex-Infinity).
