- Medical Imaging Service Provider Integral Diagnostics (IDX) Intends to Acquire Horizon Radiology from Auckland
- IDX will pay $ 27.4 million in advance for the purchase plus a receipt for up to $ 2.7 million depending on Horizon’s financial performance
- The company says the purchase will give a projected contribution to EBITDA of £ 22. in the format of up to $ 3.6 million, although this is without taking into account the adverse effects of COVID-19
- The acquisition, which is due to be completed at the beginning of fiscal year 23, marks another step in Integral Diagnostic’s plans to expand into the New Zealand market.
- IDX shares closed at 0.27 percent and traded at $ 3.68
Medical imaging provider Integral Diagnostics (IDX) is set to acquire Horizon Radiology, a provider of obstetrics, musculoskeletal and ultrasound services based in Auckland.
IDX will pay $ 27.4 million in advance for full control of the company, plus a fee for receiving up to $ 2.7 million over two years depending on Horizon’s financial performance.
IDX said the purchase would provide a projected contribution to EBITDA of £ 22. in proforma to $ 3.6 million. However, this eliminates the adverse effects of COVID-19.
Horizon Radiology operates 16 clinics in Auckland, eight of which are located next to key therapists.
The acquisition marks another step in Integral’s plans to expand into the New Zealand market. This is the latest in a series of business acquisitions made by IDX in Australia and New Zealand.
In MayIDX has agreed to acquire Exact Radiology from Queensland for $ 37.5 million.
CEO and CEO of Integral Diagnostics Jan Kadysh said the company plans to continue expanding through future acquisitions.
The acquisition of Horizon is expected to be completed at the beginning of fiscal year 23.
IDX shares closed at 0.27 percent and traded at $ 3.68.