StockMarketWire.com - Cello Group has acquired iS Healthcare Dynamics, an award-winning healthcare communications agency, specialising in medical communication services to UK, European and global healthcare clients.

The initial consideration is approximately £2.5m of which £2.0m is payable in cash, with the balance satisfied by the issue of 567,376 new ordinary shares.

Further cash consideration will be paid to vendors on a pound for pound basis to the extent that net current assets are over £500,000 at the date of completion.

In addition, there are payments of up to £3.3m dependent on performance over the period to 31 December 2016. These further payments are in a mixture of cash and new ordinary shares at Cello's discretion, with a minimum overall cash consideration of approximately 80%.

For the year to 31 March 2014, iS had an unaudited turnover of £6.6m, gross profit of £3.9m and profit before tax of £1.1m.




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