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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Paragon Care Ltd.    PGC   AU000000PGC4

PARAGON CARE LTD.

(PGC)
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End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 06/25
0.415 AUD   +1.22%
04/30PARAGON CARE : Quarterly Update March 2019 (APR2019)
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04/26PARAGON CARE : Appendix 3B (APR2019)
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03/26PARAGON CARE : Securities Trading Policy (MAR2019)
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News SummaryMost relevantAll newsOfficial PublicationsSector news

Paragon Care : Acquisition of Medtek Pty Ltd

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08/13/2017 | 11:52pm EDT

14th August 2017

Australian Securities Exchange Company Announcements Office

ACQUISITION OF MEDTEK

ASX ANNOUNCEMENT

paragoncare.com.au

The Directors of Paragon Care Limited (ASX: PGC) ("Paragon" or the "Company") are pleased to announce the agreed acquisition of Medtek Pty Ltd ("MTK") for a purchase consideration of $649,000 to be funded via Paragon shares and cash.

Medtek focuses on the Far North Queensland region and specialises in providing high-quality biomedical engineering services and preventative maintenance to the Medical, Scientific, Aged Care and Allied Health clientele in the region.

With offices in Cairns and Townsville, the acquisition allows Paragon to penetrate the region with direct representation, expand its service and maintenance offering and establish a sales gateway for the balance of its product portfolio.

Highlights:

  • Acquisition of Medtek for $649,000

  • Paragon will leverage Medtek's Far North Queensland penetration via its offices in Cairns and Townsville

  • EPS accretive in FY18

Following the acquisition, and when combined with Paragon's existing service and maintenance operations, the Company will have in excess of 50 biomedical engineers and service technicians servicing the Australian and New Zealand healthcare sector. This will provide a solid foundation for growth for FY18 and beyond as Paragon fulfils an element of its strategic plan in providing a high quality national service and maintenance offering to its clients.

The transaction albeit not material in terms of additional sales and profit will be modestly EPS accretive in FY18. The consideration of $649K for Medtek includes $50,000 in Paragon fully paid ordinary shares with the balance in cash.

The Managing Director, Mark Simari commented, "The Medtek acquisition strengthens Paragon's Far North Queensland representation, whilst generating significant sales gateways for the future."

John Osborne

Company Secretary

For further information please contact: Mark Simari - Managing Director

T: 1300 369 559 E: mark.simari@paragoncare.com

About Paragon Care Limited

Paragon Care is a Melbourne based, listed company with the ASX (PGC), which has progressively acquired businesses in the healthcare sector. It is a leading provider of medical equipment, devices and consumables for the Australian and New Zealand healthcare market. These are high growth markets driven by the ageing of the population, continuously rising consumer expectations and increasing government spending. By combining a series of strategic acquisitions of class leading companies, Paragon Care has positioned itself to provide end to end solutions including equipment and consumable solutions for acute, aged, primary, community and hospital care. Paragon Care Ltd.'s head office is located at 11 Dalmore Drive Scoresby VIC 3179 Australia. For further information please contact Mark Simari, Managing Director (1300 369 559) or via email at info@paragoncare.com.au.

Paragon Care Ltd. published this content on 14 August 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 August 2017 03:51:09 UTC.

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Financials (AUD)
Sales 2019 251 M
EBIT 2019 20,9 M
Net income 2019 9,00 M
Debt 2019 -
Yield 2019 6,22%
P/E ratio 2019 13,67
P/E ratio 2020 8,20
Capi. / Sales 2019 0,55x
Capi. / Sales 2020 0,53x
Capitalization 139 M
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Mean consensus HOLD
Number of Analysts 2
Average target price 0,47  AUD
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Andrew Just Chief Executive Officer
Shane Francis Tanner Non-Executive Chairman
Michael G. Rice Chief Operating Officer
Len Kocovic Chief Financial Officer & Co-Secretary
Michael C. Newton Non-Executive Director
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