There’s more. Advent Health’s chairman is Lou Panaccio, who also chaired Azure Health Technologies, which delisted on May 1 after its initial public offer raising failed to meet ASX listing rules requiring at least 300 shareholders hold $2000 or more of shares .
No mention of that failure in Panaccio’s glowing biography in Advent Health’s IPO prospectus. The said biography reveals Panaccio is currently on the board of Sonic Healthcare, among other ASX-listed companies. Panaccio is also the chairman of ASX-listed Avita Group.
Still, the performance of the Advent IPO and its roll-up business model could be one to watch.