AAP - The West Australian
Troubled manufacturer Hills Holdings is selling its healthcare equipment business.
Hills is selling the Perth-based business for an undisclosed amount to K Care Pty Ltd, which is owned by a management team and private equity firm Anacacia Capital.
Hills said the deal was not material to the group's sales and earnings.
The sale comes as Hills undertakes a major restructure under new managing director Ted Pretty.
Hills is expected to shed hundreds of jobs as part of the restructure, which Mr Perry ordered in response to slower economic conditions and a steeper-than-expected drop in construction activity.