Updates

Medica

December 2020

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.

Medica has announced the acquisition of Global Diagnostics Ireland for an initial EU16m (£14.5m) from Centric Health. Global Diagnostics is the market leader of teleradiology services in Ireland while it also adds expertise in diabetic retinopathy, ophthalmology and ultrasound services. The Irish market is worth over EU500m, growing at 8% p.a. and like the UK has an under supply (of c. 25%) of teleradiologists. The deal equates to an initial purchase price of 8x EBITDA and is strongly eps enhancing.Earlier Medica released interims showing a 22.7% decline in revenue to £17m while operating profit fell 62% to £2m. Nighthawk, the out of hours service where self-employed radiologists read complex digital images such a ...

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