Tech recruitment company, People Infrastructure (ASX:PPE) announced plans to snap up two QLD healthcare staffing agencies, First Choice Care Pty Ltd, and Carestaff Nursing Services Pty Ltd for $16.8 million.
The purchase of the QLD leaders in hospital and aged care nursing staff recruitment, will be funded from People Infrastructure's cash facilities, including its recent $20 million share placement.
People Infrastructure expects that First Choice and Carestaff will contribute $3.4 million in EBITDA for the next 12 months and it be ‘significantly earnings accretive’.
Their management teams will remain in place, to continue to drive business growth.
Shares in People Infrastructure (ASX:PPE) are trading 1.59 per cent lower at $3.09