Patterson (PDCO) Buys Mobilis Healthcare, U.K. Distributor of Physical Therapy, Sports Medicine
PDCO Hot Sheet
Overall Analyst Rating:NEUTRAL (= Flat)
Dividend Yield: 1.7%
Revenue Growth %: +5.9%
Patterson Companies (Nasdaq: PDCO) today announced that the U.K. unit of its Patterson Medical business, Homecraft Rolyan Ltd., has acquired Mobilis Healthcare Group, one of the U.K.'s leading value-added distributors of physical therapy, sports medicine and podiatry products. Terms of the all-cash transaction were not disclosed.
With sales of approximately $28 million (£20 million), Mobilis serves 12,000 customers in the U.K. and France and owns several leading brands that are sold into its primary markets. Mobilis, which is profitable and possesses a debt-free balance sheet, is expected to be modestly accretive to Patterson's consolidated earnings during the first year followings its acquisition.
With sales of approximately $28 million (£20 million), Mobilis serves 12,000 customers in the U.K. and France and owns several leading brands that are sold into its primary markets. Mobilis, which is profitable and possesses a debt-free balance sheet, is expected to be modestly accretive to Patterson's consolidated earnings during the first year followings its acquisition.
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