Australia's Austco Healthcare gains on acquiring two firms
BUZZ-Australia's Austco Healthcare gains on acquiring two firms ** Shares of Austco Healthcare AHC.AX gain as much as 8.7% to A$0.25, posting their biggest intraday pct gain since August 28
** Stock hits its highest since October 7
** Healthcare communication firm takes over RTM Hold Co, a Brisbane-based real-time monitoring and reporting software provider for healthcare and aged-care facilities
** Austco pays an upfront cash consideration of about A$9.44 million ($6.53 million), with about a third to be expected to held in escrow, pending a key customers contract renewal
** Also acquires CareTech Systems for an upfront cash consideration of A$3.0 million
** Austco says CareTech is expected to provide A$1.1 mln net revenue and A$0.5 mln EBITDA in FY27
** Nearly 735,400 shares change hands, 4x the 30-day average
** Stock down 39.2% this year, including the day's move
($1 = 1.4453 Australian dollars)
(Reporting by Rudrannsh Mehra in Bengaluru)