Optima Health PLC (AIM:OPT) is to acquire Cognate Health in a deal worth up to €9 million, giving the AIM-quoted firm entry into Ireland
Cognate, an occupational health provider, last year generated €7.37 million and made a €0.86 million pre-tax profit. It has 30 clinic sites, approximately 60 employees, and a network of 35 occupational physicians.
"The acquisition of Cognate is a significant milestone for Optima, providing the Company with access to a new geographic market,” said chief executive Jonathan Thomas.
“Cognate's business is strategically aligned with ours, with a focus on occupational health services to improve health and wellbeing in the workplace.”
Thomas added: “We look forward to integrating the businesses and benefiting from the significant additional clinical capabilities, and revenue synergies, as we continue to evaluate further value-enhancing bolt-on opportunities in the market."
Optima, meanwhile, highlighted that it continues to believe there are significant opportunities to accelerate growth and will continue to evaluate bolt-on acquisitions and consolidation in the market.