Medical sterilising firm Synergy Health has bought US outfit MSI Surgical Solutions for 6.5m pounds.
The transaction will be funded out of existing debt facilities.
MSI operates a hospital sterilisation facility in New York, and is the second-largest provider of these outsourced services in the US.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The business recorded revenues of $4.0m (approx. £2.5m) in the year ended December 31st 2011, and has been acquired for a cash consideration that equates to 6.5 times earnings before interest, tax depreciation and amortisation.
Synergy says the big idea is to develop a hospital outsourcing service within the United States, following the acquisition of medical device steriliser BeamOne in April.
Synergy's stock is up 1.7% over the last 12 months.
BS
-
Trouble brews in B&M as bargain shops take a hitOpinion Once a stock market darling, B&M's share price has slumped. What has gone wrong for bargain shops?
-
US and China reach a ceasefire in their trade war after talks in LondonThe US and China's trading relationship – the most important one in the global economy – is back on track. Will the truce last?
