Austco Healthcare Limited (ASX:AHC) entered into a conditional binding term sheet to acquire Teknocorp Australia Pty Ltd for AUD 3.7 million on May 29, 2023. The Purchase Price will be satisfied through an upfront cash payment of AUD 1.9 million and the issue of 3.9 million shares of Austco at issue price based on the 30-day volume weighted average share price of Austco determined two business days before completion along with an earnout amount AUD 1.25 million. Transaction is subject to the Share Consideration being subject to voluntary escrow for the period of the Earnout, entry into executive services agreements of key employees, assignment of key customer and supplier contracts, regulatory consents and approvals, Acquisition is subject to due diligence and austco finalizing its financial and legal due diligence and agreeing on final form transaction documents. The Acquisition is expected to complete early in Q1 of FY24. The Acquisition is expected to be immediately earnings per share accretive, not including any revenue synergy benefits. As on September 25, 2023, Austco Healthcare Limited (ASX:AHC) executed an agreement to acquire Teknocorp Australia Pty Ltd. The acquisition is expected to complete in October 2023. Austco used part of AUD 1 million over-draft facility with a tier one bank debt provider to fund the acquisition.

Austco Healthcare Limited (ASX:AHC) completed the acquisition of Teknocorp Australia Pty Ltd on November 27, 2023.