APM's acquisition of Everyday Independence strategically sound- Morningstar

APM Human Services International

15/12/2022 22:59

** Morningstar says acquisition of Everyday Independence
will provide APM Human Services International  APM.AX  with
instant scale in the key growth sector of disability services;
adds the deal is "strategically sound" 
    ** APM on Thursday announced it will acquire all shares of
Everyday Independence for cash consideration of A$52.5 mln 
($35.19 mln)
    ** Brokerage says the deal complements APM's existing allied
health business in Australia; increases the co's EPS estimates
over the next 10-yrs by average 4%
    ** Expects the deal to contribute to APM's earnings for five
months in fiscal 2023
    ** Four of five analysts rate the stock "buy" or higher, one
"hold"; their median PT is A$4.0 – Refinitiv data
    ** As of last close, stock had fallen 10.2% this year, 
($1 = 1.4919 Australian dollars)
 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))