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Austco Healthcare completes strategic acquisition of Amentco

Austco Healthcare Limited (Austco) (ASX:AHC) is pleased to announce the completion of the acquisition of Queensland-based Amentco Enterprise Group Ltd (Amentco).

Amentco Overview and Rationale

Amentco is a security and healthcare solutions provider and is a certified Austco Nurse Call reseller. Amentco specialises in providing integrated nurse call, security, access control and complementary systems to small and medium-scale enterprises in public and private sectors. The acquisition further increases Austco’s direct sales capability, provides growth opportunities and enhances its range of solutions to better meet the needs of the Australian healthcare market.

Acquisition Completion Particulars

  • an upfront cash consideration of $5,000,000 utilising proceeds raised via Austco’s recently completed capital raising; and
  • Austco to issue scrip consideration of 10,256,410 Austco ordinary shares, that are subject to an escrow period to 29 September 2025 (calculated as $2,000,000 worth of shares at an issue price of $0.195 per share, being the 30-day VWAP determined two business days prior to settlement).

Refer to ASX Announcement dated 26 April 2024 “Austco Executes Share Purchase Agreement to Acquire Amentco” for additional details.

This announcement was approved for release by the Board of Austco.

Please find a PDF of this release here.