Goldsearch (ASX:GSE) is acquiring National Health Services Pty Limited (NHS) for $7.5 million through the issue of new shares.
NHS operates in the occupational medical sector, focussing on workers compensation, which includes injury management, physiotherapy, rehabilitation services, and medico legal services.
It is expanding its footprint nationally to meet the current demand from its clients, which include Woolworths, Aldi, Coles, Qantas, Australia Post, Startrack, TNT, QBE and similar blue chip clients.
Goldsearch has also agreed to pay the vendors of NHS a further $2.1 million worth of shares in July 2016, as final consideration for G&G meeting their target EBITDA.
The company is currently in discussions with a number of brokers to fully underwrite its prospectus to comply with ASX listing rules. This involves the raising of up to $5 million to expand NHS’ business footprint nationally.
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