Australia's Careteq jumps on home medicines review platform deal

Careteq

07/12/2023 02:25

** Shares of Careteq  CTQ.AX  rise as much as 8.3% to A$0.026,
their biggest intraday pct gain since Nov. 10
    ** Stock at its highest since Nov. 17
    ** Health-tech co says it has entered into a binding
agreement to acquire the home medicines review platform, New
Medical Enterprises Pty 
    ** Adds expects cash flow positive post synergies, and
contribute profitability for FY24
    ** About 388,915 shares change hands, compared with the
30-day average volume of 171,698 shares
    ** Stock down 57% YTD as of last close

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))