LifeHealthcare Group Limited
(ASX:LHC) (LifeHealthcare), one of Australia’s leading independent distributors of high end medical devices, today announced that its wholly-owned subsidiary, Lifehealthcare Distribution Pty Limited, has entered into an agreement, subject to certain conditions (refer below), to acquire all of the issued share capital of Medical Vision Australia Cardiology & Thoracic Pty Limited (MVA), a distributor in the Interventional Cardiology market specifically in Australia (the Transaction).
The Transaction is subject to satisfaction of a number of conditions precedent, including final completion of legal, financial and tax due diligence to the satisfaction of LifeHealthcare, LifeHealthcare obtaining debt financing to fund the purchase price, and completion of the renegotiation of the terms of the relevant contracts with MVA’s key suppliers. Completion of the Transaction is expected to occur in mid to late September 2015.
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