SYDNEY, AUSTRALIA: Austco Healthcare Limited (ASX:AHC), a leading provider of nurse call and clinical workflow solutions, announced today that it has agreed to buy the business and assets of Teknocorp Australia Pty Ltd and its related business Victorian Monitoring Services for an undisclosed sum.
Teknocorp is a privately-owned security and healthcare solutions provider and a certified Austco Nurse Call reseller for more than 20 years. Teknocorp specializes in integrated nurse call, security, access control and complementary systems in health and various other sectors. It has a diverse client base of small and medium-scale enterprises in public and private sectors, predominantly operating in healthcare, aged-care, maintenance and construction sectors in Melbourne, Victoria.
The acquisition of Teknocorp aligns with Austco’s strategy to build its direct sales capability, accelerate growth and enhance its range of solutions to better meet the needs of the Australian healthcare market. The acquisition will also enable Austco to expand its offering to Australian hospitals and aged care providers to include other low-voltage systems.
Teknocorp is forecast to achieve approximately $9 million in revenue and $1.1 million in earnings before interest depreciation amortisation and tax (EBITDA) in FY2023. The acquisition is expected to be immediately earnings per share accretive, not including any revenue synergy benefits.
The acquisition is expected to close in Q3 2023, subject to customary conditions precedent.
Austco CEO, John Smith, said: “We are delighted to announce the acquisition of Teknocorp, which is a well-respected and established business with a strong track record of success. The acquisition will enable us to accelerate our growth plans in Australia and better meet the needs of our customers. We look forward to welcoming the Teknocorp team to the Austco family and working together to deliver innovative solutions for the healthcare sector.”