BATM Advanced Communications has agreed to acquire Zer Laboratories for NIS2.75m (approximately £580,000) in cash.
Zer Laboratories, which has its headquartered in Tel Aviv, was established in 1976, and is the largest private diagnostic laboratory in Israel for clinical tests, mainly providing prenatal screening tests for Down's Syndrome, genetic tests and additional tests performed during IVF and fertility treatments. Zer Laboratories' unaudited revenues for full year 2015 amounted to $2.4m and profit before tax was $27,000.
BATM said the acquisition was expected to be earnings accretive in the financial year ending 31 December 2017.
At 8:04am: (LON:BVC) BATM Advanced Communications Ltd share price was +0.88p at 19.88p