Paragon Care (ASX:PGC) has reached agreement to acquire REM SYSTEMS, one of New Zealand’s most highly regarded healthcare businesses.
REM is a specialised medical distribution company supplying acute care hospitals, day surgeries, allied health clinics, medical practices and veterinary clinics throughout New Zealand and Australia.
REM has a forecast revenue base of approximately NZ$68m and an FY18 EBITDA of NZ$7.2m for this financial year.
Paragon has agreed to acquire REM for a net Enterprise Value of NZ$54.4m. Approximately 80% in cash - NZ$43.9 and 20% in fully paid ordinary shares in Paragon – NZ$10.5m
Shares in Paragon Care (ASX:PGC) up 6.13 per cent 86c.