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Synergy Health - Acquisition opens doorgrade to huge US market

August 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • SYR
  • Price:
  • 916p
Synergy has announced the acquisition of SRI, a supplier of US hospital sterilisation services, for £24.9m. SRI provides sterile surgical gowns and instrumentation to hospitals and provides entry to this huge new US$2.9bn market. Synergy's plan is to merge SRI's network of ten service centres with its other recent acquisition, MSI Surgical, to save an annual US$5m through synergies, while creating an entity generating hospital sterilisation revenues of US$42m (£27.2m).Contemporaneously, Synergy released annual results that showed an 8.6% rise in turnover to £312m and 13% increase in pretax profit to £43.4m. Helped by a rise in operating margins from 15.0% to 15.7%, eps increased 13% to 60.3p. Net debt lifted from £61m to £17 ...

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