SYDNEY: Austco Healthcare Limited (ASX:AHC) announced Monday that it has signed a conditional binding term sheet to acquire Guild & Spence Technologies, a New Zealand-based company specializing in integrated communication and security systems for healthcare facilities.
The acquisition aligns with Austco’s mission to enhance patient care, safety, and operational efficiency through advanced technology solutions. Guild & Spence Technologies, founded in 2000, has built a strong reputation in the healthcare and aged-care sectors across New Zealand’s North Island, boasting more than 200 customers and over 5,000 completed projects.
“This acquisition marks a pivotal step in Austco’s strategy to accelerate growth and strengthen its solutions portfolio,” said Austco CEO Clayton Astles. “With Guild & Spence Technologies’ expertise and customer relationships, we aim to bolster our competitive position and deliver integrated solutions to healthcare markets in New Zealand and Australia.”
Guild & Spence Technologies specializes in nurse call systems, real-time locating security systems, CCTV, and access control. Austco plans to integrate the company into its existing operations, retaining key personnel to ensure a smooth transition and deliver increased profitability.
Michael Pope, CEO of Guild & Spence Technologies, expressed enthusiasm about the acquisition, emphasizing the opportunities for both employees and clients. “This collaboration will allow us to enhance the value we provide to our customers while growing together with Austco Healthcare,” Pope said.
The acquisition involves an upfront payment of NZ$7.97 million, with an additional earnout payment based on performance through the end of 2026. The deal positions Austco to expand its market penetration and enhance its direct sales capability while streamlining operations and leveraging revenue synergies.
Austco continues its commitment to growth, having pursued similar acquisitions previously. The company aims to engage corporate clients across New Zealand and Australia with unified offerings and expand its reach within the healthcare sector.