Acquisition of radiology service provider RIMAB SAS

IMEXHS Limited (ASX: IME) (“IMEXHS” or “the Company”) announces that it has entered into an agreement for the acquisition of Colombia-based radiology services provider RIMAB SAS (“RIMAB”) (“Acquisition”).


Highlights

Acquisition of RIMAB SAS, a radiology services provider, for COP24.3 billion or approximately A$8.5 million,1 (assuming satisfaction of the earn-out conditions) in a combination of cash and IMEXHS ordinary shares
Purchase price of A$8.5 million less debt and working capital of AUD$0.7m2 comprises cash of ~A$1.4 million and 3,649,064 shares at A$1.76 (~A$6.4m) being the 10-day VWAP to 3 days prior to this announcement
RIMAB strengthens IMEXHS’s customer offering with imaging and teleradiology services and provides a testbed for artificial intelligence (AI) development
For the year to 31 December 2020, RIMAB had revenue of A$9.0m and EBITDA of A$1.5m3 (on a consolidated basis revenue of A$3.2m4 and EBITDA of ~A$1.5m)
Acquisition expected to be earnings accretive; price equates to 6.6×5 2020 EBITDA

Visit web page: RIMAB WEB

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