AorTech have announced the proposed acquisition of the partner in their vascular business − RUA Medical Devices Ltd for £2.45m. RUA Medical is a stand-alone cash-generative, medical device and development company. The cash element of the acquisition is funded from existing resources and the stock element at £1 is a premium of 34% to the last close price. RUA’s cost equates to 1.5x FY 2019 sales and 8.5 times EBITDA. Subject to shareholder approval, the deal should close post financial year-end, not affecting FY2020 estimates.
11 Mar 2020
Strategically more than the sum of the parts
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Strategically more than the sum of the parts
RUA Life Sciences Plc (RUA:LON) | 11.0 -0.1 (-4.3%) | Mkt Cap: 6.83m
- Published:
11 Mar 2020 -
Author:
Andy Smith -
Pages:
7
AorTech have announced the proposed acquisition of the partner in their vascular business − RUA Medical Devices Ltd for £2.45m. RUA Medical is a stand-alone cash-generative, medical device and development company. The cash element of the acquisition is funded from existing resources and the stock element at £1 is a premium of 34% to the last close price. RUA’s cost equates to 1.5x FY 2019 sales and 8.5 times EBITDA. Subject to shareholder approval, the deal should close post financial year-end, not affecting FY2020 estimates.