Constellation Healthcare Technologies (CHT) has taken the first step in its buy-and-build strategy following its listing in December with the purchase of New York-based Physicians Practice Plus (PPP), for up to $20m (£13.5m).
IC TIP:
Buy
at
137p
The US medical billings group said the deal would be "immediately earnings enhancing" and generate $2m in cost savings this year from PPP's outsourcing operation in India. The company made the announcement as it posted a 104 per cent increase in cash profits to $14.2m, and a maiden dividend of 2.9¢ a share.
Broker finnCap has upgrades its forecast for adjusted 2015 EPS to 17.1¢, and pre-tax profits to $15.6m.
