PSC Insurance Group Limited (ASX:PSI) agreed to acquire Medisure Indemnity Australia Pty Ltd for AUD 2.9 million on August 17, 2017. As per terms, PSC Insurance Group Limited shall pay 80% of purchase price upfront and the remaining 20% due within 15 months. The final 20% is adjustable, dependent on the revenue after 12 months. In a related transaction, PSC Insurance Group Limited agreed to acquire Insurance Marketing Group of Australia Pty Ltd for AUD 5.7 million on August 17, 2017. Mike Sullivan, Managing Director of Medisure Indemnity Australia, will remain in the business to assist with the transfer and integration. The transaction is expected to complete within one month.