Australian Healthcare: Healthcare Daily: News, research & industry feedback

研报英文原文证据摘录

Australian Healthcare: Healthcare Daily: News, research & industry feedback

Global Research

25 June 2026ab

Australian Healthcare Equities

AustraliaHealthcare Daily: News, research & industry

feedback Healthcare

David Low

Analyst

david.low@ubs.com

Stocks covered: TLX, RHC, COH +61-2-9324 2843

James Meares

News and press releases Analyst

james.meares@ubs.com

+61-29-324 3575TLX - "A $30 Billion Cancer Breakthrough is Under Threat From Global Conflicts"

(Bloomberg, 18 Jun) Grace Allen

Associate Analyst

grace-za.allen@ubs.com

UBS View: This highlights the growing interest in radio-theranostics along with supply, +61-2-9324 2000

manufacturing and logistic challenges faced by both the leading companies and newer

entrants. This highlights the value of Telix's therapeutic pipeline and its established

supply chain and manufacturing capacity.

RHC - "Ramsay Santé launches senior debt refinancing" (Company PR, 24 Jun)

UBS View: Ramsay Sante's decision to refinance was well flagged and has limited read

across to the Wholly Owned Funding Group (i.e. the AU and UK operations which will

remain post the in specie distribution). The refinancing does not change the gross debt

but does extend the maturity profile.

RHC - "Ramsay Generale de Sante Downgraded To 'B+' On Revised Group Support;

Outlook Stable"

UBS View: The cut to the rating was attributed to the group's "high leverage, weaker

interest coverage and the ongoing governance uncertainty associated with the

ownership transition."

COH - "Medicare’s AI push snarls patients and doctors in errors and delays" (Fierce

Healthcare, 23 Jun)

UBS View: This article draws further attention to the prior authorisation challenge with

US insurance including Medicare. We believe this unhelpful trend is one factor in the