- Healthia (HLA) enters binding agreements to acquire three new businesses in the health care industry for a total consideration of $1.83 million
- The payment will be made in cash and shares, with an additional $210,000 payable upon the achievement of pre-defined conditions
- The businesses include Restore Movement, Re-Wired Hand Therapy, and the Eye Place
- They are expected to bring in an extra $460,000 to EBITDA and $2.65 million in annualised underlying revenue
- Shares are trading 2.19 per cent lower to $1.79 each at market close
Healthia (HLA) has entered binding agreements to acquire three new businesses in the health care industry for a total consideration of $1.83 million.
The payment will be made in cash and shares, with an additional $210,000 payable upon the achievement of pre-defined conditions.
The businesses include Restore Movement, Re-Wired Hand Therapy, and the Eye Place. This will add five clinics and one store to HLA’s portfolio.
They are expected to bring in an extra $460,000 to EBITDA and $2.65 million in annualised underlying revenue.
The acquisition will be funded through the company’s cash reserves and its finance facility held with NAB, ANZ, and BOQ.
The purchase of the new businesses will take HLA’s total capital deployed on new acquisitions to $110.8 million.
Shares were trading 2.19 per cent lower today at $1.79 each at market close.