CAE Healthcare provides education and training solutions for healthcare and clinical professionals to develop practical experience in simulated environments. Credit: Egor_Kulinich / Shuttertsock.

Madison Industries has completed the acquisition of Canada based Healthcare business of CAE, a technology company.

The latest announcement comes after CAE executed a definitive agreement on 24 October 2023 for the divestment of its Healthcare division to Madison Industries.

This transaction has been finalised at an enterprise value of C$311m ($230.7m), subject to certain customary adjustments.

CAE Healthcare, one of the three primary divisions of CAE, provides various integrated education and training solutions for healthcare and clinical students and professionals, helping them to develop practical experience in simulated environments before treating actual patients.

The division’s offerings include a full range of simulation solutions, such as the CAE LearningSpace audiovisual and centre management platform, surgical and imaging simulation, curriculum, and highly realistic patient simulators for adults, children, and infants.

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CAE Healthcare’s acquisition will allow Madison Industries to enhance its existing portfolio of medical solutions.

This strategic move is also expected to help CAE streamline its operating model and sharpen its focus on core sectors while allowing it to optimise its cost structure and create efficiencies.

The company anticipates incurring restructuring expenses of around C$40m within the next two fiscal quarters.

CAE also plans to use the net proceeds from this sale to expedite deleveraging and support ongoing technological advancements and market leadership within its core training, simulation, and aviation software markets.

Madison Safety and Flow president and CEO Kris Howard said: “The acquisition of the CAE Healthcare business will strengthen our portfolio as we continue to leverage the world-leading R&D talent in Quebec.

“The world continues to engage with digital and physical tools to enhance the teaching and training experience; CAE Healthcare is leading the way in improving the capacity and effectiveness of clinicians, nurses, first responders and healthcare professionals globally.”