Zenitas Healthcare announces strategic acquisitions, provides update on takeover

Company News

by Anna Napoli

Zenitas Healthcare (ASX:ZNT) has today announced it has entered into binding agreements to acquire three separate businesses.

The largest proposed acquisition is Accommodation and Care Solutions with a purchase price of $60 million.

The Melbourne based disability services business posted pro forma revenue of $31.1 million and earnings of $5.6 million for the 2018 financial year.

Zenitas is currently in the midst of a takeover scheme, whereby a consortium has offered to buy all Zenitas shares for $1.46 cash per share.

The independent directors have recommended shareholders vote in favour of the scheme at a meeting to be held on the 14th of November.

Shares in Zenitas (ASX:ZNT) are trading 0.36 per cent lower at $1.41.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.