ACL provided a prelude of the short term things to come at their 1H update with a downgrade largely driven by much lower than expected seasonal volume growth.
Its CFO leaving is usually not a good sign.
Their SA CEO Eric Swan and Clayton Lab Manager Nick Champness leaving aswell.
So all up three senior execs leaving in a short period post ACL bid for healius failure.
Would not be surprised if Melinda McGrath (CEO) leaves soon aswell.
It appears that ACL was banking on the Healius acquisition going through and banking all the near term issues on that as the fix and when it didn't go through as was the most likely scenario.
The only saving grace appears market is getting more confident federal budget will include an increase in pathology indexation.
Overall, more likely near term pain before recovery.
ACL Price at posting:
$2.37 Sentiment: None Disclosure: Not Held
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