StockMarketWire.com - Empresaria has conditionally agreed to acquire PS for an aggregate consideration expected to be approximately $12.11m and raise £3.3m, gross, through a placing of up to 4,456,285 shares.

PS is a specialist recruitment group in the US healthcare market focussing primarily on pharmacy benefit managers with 100% of its revenues generated from temporary sales.

PS represents Empresaria's first acquisition in the US and will significantly increase the group's exposure in the healthcare sector.

Empresaria said the shares will be placed at a price of no less than 75p - a discount of around 6% to the average closing price last week and a discount of approximately 12% to the closing price last night.

Chief executive Joost Kreulen said: "We are very pleased to be announcing the acquisition of PS, a business that is a strong strategic fit and clearly complementary to our Group. This increases our presence in the healthcare sector with entry to the high growth US market. It also further diversifies the Group's geographic spread and is in line with our temporary recruitment bias. PS operates solely in the professional market, delivers strong operating KPIs and is expected to be earnings enhancing on an adjusted basis in its first full year. "We look forward to welcoming the PS team and continuing to drive the wider Group's growth going forward."




At 1:40pm: [LON:EMR] Empresaria Group PLC share price was -3p at 82.5p



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