- Cello Group has acquired the assets of Advantage Healthcare.

Cello said the proposed initial consideration for the acquisition was US$1.5 million, payable in cash.

It said a further cash consideration would be paid to the vendors on a dollar for dollar basis to the extent that the acquired net current assets of Advantage Healthcare were over US$0.5 million at the date of completion.

In addition, a deferred consideration of up to US$3.00 million would be payable in a mix of cash and shares, dependent on financial performance over the period from 1 July 2017 to 30 June 2021.

It said this deferred consideration would be paid in a minimum of 75% cash, with the balance in new ordinary shares.

Story provided by