Diagnostic imaging provider Capitol Health
(ASX:CAJ) has completed the acquisition of 9 new clinics.
The healthcare company paid $17 million upfront on a cash and debt free basis with up to $3.3 million payable under earn-out to vendors over the first year of ownership.
Capitol says the new clinics are expected to contribute $16.5 million in revenue and $3.1 million in earnings per annum.
The company says the acquisitions are another step in the businesses existing growth strategy with clinics expected to contribute strongly to the full year 2019 result.
Shares in Capitol Health
(ASX:CAJ) are trading 3.57 per cent lower to 27 cents.
