Resonance Health Limited entered into Share Sale Agreement to acquire TrialsWest Pty Ltd from Helen Pavitt, Michelle Davies, and Peter Bremner for AUD 8 million.

Resonance Health Limited (ASX:RHT) entered into Share Sale Agreement to acquire TrialsWest Pty Ltd from Helen Pavitt, Michelle Davies, and Peter Bremner for AUD 8 million on April 2, 2024. Total consideration payable to the Vendors is capped at AUD 8 million and is comprised of a AUD 4 million upfront cash payment, and up to a AUD 4 million only payable upon TrialsWest achieving EBITDA of AUD 1.33 million in a financial period up to and including FY26. The acquisition is expected to be funded from cash reserves and a new debt facility.

The transaction is expected to complete in the last quarter of FY24 and is subject to obtaining a debt facility of AUD 2 million, and to standard conditions such as completion of due diligence by Resonance.