Althea CEO and Founder Joshua Fegan Resigns After Medicinal Cannabis Exit
Joshua Fegan, founder and CEO of Althea Group Holdings (ASX: AGH), has officially resigned following the company’s strategic exit from the medicinal cannabis sector. His departure comes after a significant restructuring that saw Althea divest its pharmaceutical cannabis business to Tasmanian Botanics for A$1 million in May 2025.
Fegan, who launched Althea in 2016, led the company’s early expansion across Australia, the UK, and Canada, becoming one of the more visible players in the global medical cannabis space. However, faced with mounting regulatory pressures and a rapidly changing market, Althea shifted focus toward the booming THC-infused beverage sector.
The medicinal cannabis sale included Althea’s trademarks and pharmaceutical brand rights but excluded inventory and key operational assets. That move marked a full pivot to the company’s cannabis beverage operations in North America, led by Peak Processing Solutions, Althea’s wholly owned Canadian subsidiary.
In Fegan’s place, the board has appointed Barry Katzman, former head of Peak, as interim CEO. Katzman is credited with scaling Peak’s manufacturing and securing major commercial contracts across the U.S. and Canada. Althea’s chairman, Vaughan Webber, said Katzman’s leadership is critical to driving the company’s next phase of growth.
Fegan’s exit caps a turbulent year of cost-cutting, layoffs, and divestments. In 2024, Althea shut down its vape division over regulatory and ethical concerns and sold its UK-based MyAccess Clinics to reduce exposure to loss-making units.
With AGH’s shares still suspended on the ASX due to delayed disclosures, the company is working to re-establish compliance and restore investor trust. As it moves forward under new leadership, Althea is betting big on cannabis beverages as its core growth engine — leaving its medicinal roots behind.
LaunchVic to Invest $3.75M to Strengthen Victoria’s Startup Ecosystem
LaunchVic, Victoria’s government-backed startup agency, has announced a $3.75 million investment to further accelerate the state’s fast-growing startup ecosystem. The funding, unveiled at the 2025 Victorian Startup Gala, targets three strategic areas: early-stage capital, university entrepreneurship, and founder communities.
The largest portion, $2.1 million, will support the creation of seven new venture capital funds under LaunchVic’s VC Support Program. Recipients include Advance VC, Boson Ventures, FundBase, Tidal Ventures, Triple Bubble, Scale, and Unlock Capital — all focused on injecting early-stage capital into Victorian startups.
An additional $1.45 million in grants will go to four universities — Deakin, Federation, La Trobe, and Australian Catholic University — to launch pre-accelerator programs for student founders and early-stage entrepreneurs. The goal is to nurture a stronger pipeline of ideas emerging from Victoria’s academic institutions.
Another $200,000 has been allocated to the Aussie Founders Club to host over 60 community events across the next three years. These gatherings aim to foster grassroots collaboration and build stronger networks between founders, investors, and operators.
The announcement follows years of ecosystem development. Since its inception in 2016, LaunchVic has helped Victoria’s startup sector grow nearly 26-fold, with more than 3,500 startups and a combined ecosystem valuation exceeding $130 billion.
LaunchVic CEO Dr. Kate Cornick said the new funding ensures founders “have the capital, community, and support they need” to grow globally competitive businesses. Victorian Minister for Industry and Innovation Danny Pearson called the investment a “vote of confidence in the power of innovation to drive economic growth.”
With this $3.75 million commitment, LaunchVic continues to cement Victoria’s place as one of Australia’s leading innovation hubs — empowering the next generation of founders to build and scale globally.
Regis Healthcare to Acquire Four Rockpool Aged Care Homes in $135.5M Deal
July 26, 2025 — Regis Healthcare (ASX: REG), one of Australia’s largest aged care providers, has announced the acquisition of four high-end residential aged care homes from Rockpool Residential Aged Care in a deal valued at $135.5 million. The move will expand Regis’ national footprint to 72 homes and around 8,200 beds, reinforcing its position as a market leader in the sector.
The four homes—located in Morayfield, Carseldine, Oxley, and Pelican Waters in South-East Queensland—are known for their premium facilities and high care standards. The acquisition is expected to be completed by September 1, 2025, pending regulatory approvals and standard conditions.
Regis Managing Director Dr. Linda Mellors said the transaction aligns with the company’s strategic focus on premium care and operational scale. “Rockpool has built a strong reputation for quality care, and we are committed to ensuring a seamless transition for residents, staff, and families,” Mellors said.
Rockpool CEO Melissa Argent noted that despite difficult market conditions, the company more than doubled its revenue in the past year—from $29.6 million in FY23 to nearly $54 million in FY24. She confirmed that Rockpool will continue to operate and grow, with new projects underway in Hamilton Northshore and Kedron, both in Brisbane.
This acquisition comes as Regis continues to scale through both home care and residential care investments. The company recently acquired BodeWell Community Care and added sites in Victoria and Queensland, positioning itself to capitalize on ongoing sector reforms and increasing demand for aged care services.
With this latest deal, Regis not only strengthens its geographic reach in Queensland but also signals growing consolidation in the aged care industry as providers seek operational efficiencies and enhanced care delivery.
Bapcor Loses $536M in Market Value Amid Profit Warning and Asset Impairments
Bapcor Limited (ASX: BAP), the owner of brands like Autobarn, Burson, and Midas, has seen $536 million wiped off its market value after issuing a trading update that revealed weak earnings, major impairments, and a sudden board shake-up.
The company warned of a 1.4% revenue decline to $1.944 billion for FY25, citing soft consumer spending and disappointing performance in its retail and New Zealand divisions. While trade revenue grew modestly by 1.4%, retail and wholesale fell between 3% and 3.5%, undercutting expectations for a strong finish to the year.
More significantly, Bapcor flagged asset impairment charges between $50 million and $75 million, including $6.5 million to $7.5 million from store closures. The company also disclosed inventory write-downs, disputed customer contracts, and adjustments related to bad debts and accounting estimates — further denting profitability.
The news triggered a 31.7% drop in Bapcor’s share price, marking a five-year low and shaving over half a billion dollars from its market capitalisation in a single day.
Investor concerns deepened with the resignations of three non-executive directors — Mark Bernhard, Brad Soller, and James Todd — all citing strategic differences with the board. The surprise departures raised governance red flags and added to the sense of instability.
Despite the bleak update, analysts noted some silver linings. Cost-cutting initiatives are expected to deliver $20–30 million in annual savings, and RBC Capital upgraded the stock to “Outperform” based on its low valuation and turnaround potential.
Bapcor now expects statutory NPAT of $31–34 million, down sharply from prior years. New CEO Angus McKay faces the urgent task of restoring confidence and reversing the company’s slide in a challenging consumer environment.
REA Group Increases Stake in 3D Proptech Startup IMMERSIV
Property tech giant REA Group (ASX: REA) has expanded its investment in Brisbane-based startup IMMERSIV, a rising player in 3D architectural visualisation technology. The move deepens a strategic partnership first established in October 2024 and underscores REA’s commitment to enhancing digital property marketing experiences.
IMMERSIV builds high-fidelity, real-time 3D renderings and digital twins for off-the-plan residential and commercial developments. Its visualisation tools integrate directly into REA’s platforms, including realestate.com.au and realcommercial.com.au, allowing property developers and agents to present unbuilt projects in immersive, interactive formats.
REA Group’s Chief Customer Officer, Kul Singh, said the investment reflects growing demand for better digital sales tools in the off-the-plan market, which accounts for around one-third of all residential purchases in Australia. “IMMERSIV enables buyers to visualise future homes with unmatched realism, driving confidence and improving lead conversion,” Singh said.
IMMERSIV’s CEO and co-founder, Christian Schwerdtfeger, welcomed the renewed investment, noting it would help accelerate product innovation and scale. “Partnering closely with REA Group allows us to bring next-generation 3D experiences to developers and consumers at national scale,” he said.
The announcement comes amid increasing demand for virtual property marketing solutions as buyers expect more engaging online experiences and developers look to differentiate their offerings in a competitive market. IMMERSIV’s technology has been used in projects ranging from display villages to high-rise apartments and mixed-use precincts.
REA’s increased backing signals its broader vision to lead the proptech sector by investing in tools that support developers, improve buyer engagement, and elevate the digital real estate journey.
With this latest capital infusion, IMMERSIV is well-positioned to expand its market reach and product capabilities — reinforcing its role as a key tech partner in the future of property sales.
