Paragon Care (ASX:PGC) has made the final payment of $800,000 to the vendor of LR Instruments Pty Ltd after the business exceeded its performance condition.
In January 2014, the company acquired LR Instruments and Richards Medical for $5.3 million.
Of this, $800,000 would be deferred and become payable after 12 months subject to the acquired business meeting pre-agreed gross profit targets.
Based on preliminary financial information, Paragon Care expects earnings for the first half of the year to be higher than the prior period and will be consistent with the its pro-forma FY15 expectations.
The company is a provider of equipment and consumables to the healthcare market.
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News: Paragon Care makes final payment for surgical instruments business
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