1300SMILES acquires seventh dental practice this year

Company News

by Kathy Skantzos

Dental company 1300SMILES (ASX:ONT) has entered into an agreement to acquire an additional dental practice in regional Queensland.

The dentist has recently acquired three new practices in Queensland in October this year, bringing the total number of practices acquired in 2017 to seven.

The new practice is located 100 kilometres north of Townsville in Ingham, which the company believes is geographically important.

As a condition of the agreement, the company is also acquiring the commercial property, which it intends to divest within the short to medium term.

Settlement is expected to occur by the end of this month subject to final conditions.

Shares in 1300SMILES (ASX:ONT) closed 0.74 per cent higher to $6.80.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.