Integral Diagnostics Limited (ASX:IDX) agreed to acquire Exact Radiology Pty Ltd for approximately AUD 39 million on May 11, 2022. An upfront purchase consideration of AUD 37.5m in cash, on a cash and debt free basis and An earn-out of up to AUD 1.875m to be completed within FY22, subject to revenue performance targets being achieved. Transaction will be funded by both proceeds from IDX's recent capital raising and existing debt facilities. The acquisition is expected to be completed in early FY23, subject to satisfaction of customary conditions. Raji Azzam, Jason Jordan, Adam Dyhrberg, Sarah Watling, and Freeman Chen of Herbert Smith Freehills acted as legal advisors to Integral Diagnostics Limited (ASX:IDX) in the deal. The deal is now expected to be completed in second quarter of FY23.

Integral Diagnostics Limited (ASX:IDX) cancelled the acquisition of Exact Radiology Pty Ltd on October 24, 2022.