Smartgroup Corporation Limited (ASX:SIQ)
says it will acquire 50 per cent of Health-e Workforce Solutions for $6 million.
The purchase will deliver Smartgroup valuable proprietary software in leading hospitals including St Vincent’s Melbourne and the Royal Adelaide Hospital.
The transaction will be funded from cash and existing facilities and is expected to complete by the end of the year subject to certain conditions.
Smartgroup reported a net profit of $9.15 million for the 2015 financial year.