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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Paragon Care Limited    PGC   AU000000PGC4

PARAGON CARE LIMITED

(PGC)
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End-of-day quote. End-of-day quote Australian Stock Exchange - 05/29
0.165 AUD   -2.94%
2019PARAGON CARE : Quarterly Update March 2019 (APR2019)
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2019PARAGON CARE : Appendix 3B (APR2019)
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2019PARAGON CARE : Securities Trading Policy (MAR2019)
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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
Sales 2020 240 M 160 M 160 M
Net income 2020 2,10 M 1,40 M 1,40 M
Net Debt 2020 59,5 M 39,7 M 39,7 M
P/E ratio 2020 27,5x
Yield 2020 5,45%
Capitalization 55,8 M 37,0 M 37,2 M
EV / Sales 2019
EV / Sales 2020 0,48x
Nbr of Employees 508
Free-Float 69,6%
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Mean consensus HOLD
Number of Analysts 1
Average target price 0,27 AUD
Last Close Price 0,17 AUD
Spread / Highest target 63,6%
Spread / Average Target 63,6%
Spread / Lowest Target 63,6%
EPS Revisions
Managers
NameTitle
Phil Nicholl Chief Executive Officer
Shane Francis Tanner Non-Executive Chairman
Stephen John Munday Chief Financial Officer
Michael C. Newton Non-Executive Director
Geoffrey Joseph Sam Independent Non-Executive Director
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