News: Hills expands with Hostel acquisition

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Hills Limited (ASX:HIL) has bought a provider of patient entertainment and communication solutions to hospitals across Australia.  

 

The diversified investment company says its purchase of Hospital Telecommunications will add an extra 17 hospitals and more than 4,100 beds to its local footprint. 

 

The company believes the buy is in line with its strategy to be a leading provider of interactive patient care solutions to hospitals and aged care facilities in Australia. 

 

Hills expects the acquisition to be modestly earnings accretive in the first full financial year after the transaction is completed (FY16).  

 

Hills reported a net profit $26.38 million in the 2014 financial year.