Australia's Integral Diagnostics hits near 2-week high on acquisition

Integral Diagnostics

18/05/2022 01:52

** Shares of Integral Diagnostics Ltd  IDX.AX  rise as much
as 3.8% to A$3.830, hitting their highest level since May 5
    ** Medical imaging services co announces the acquisition of
New Zealand-based Horizon Radiology as it looks to expand its
presence and service offering in the Auckland market
 urn:newsml:reuters.com:*:nASXbJQzLN
    ** Acquisition includes an upfront consideration of NZ$30.3
mln ($19.26 mln) in cash and an earn-out of up to NZ$3 mln
    ** Sees deal to be earnings accretive in the first year
    ** Adds that the deal delivers projected FY22 pro-forma
EBITDA contribution of NZD$3.5-NZD$4.0 million
    ** Stock has risen 24.4% this year, as of last close

($1 = 1.5728 New Zealand dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))