News: Quantum Energy acquires Asian medical businesses

Quantum Energy (ASX:QTM) has acquired two medical distribution businesses based in Thailand and Korea.

The Thai medical equipment business specialises in women’s health and radiology imaging markets.

Consideration for this acquisition includes a cash component, 4% of total ordinary shares in Quantum Healthcare P/L and milestone payments.

It will expand its market penetration into high-end radiology markets.

The Korean acquisition involves an oncology distribution business that focuses on high-technology cancer treatment equipment in Korean hospitals and universities.

The consideration for this acquisition in includes a cash component, 4% of the total ordinary shares in Quantum Healthcare P/L and ongoing payments based on milestones.

Both these acquisitions are through its subsidiary Quantum Healthcare P/L.

Quantum Energy had cash of $2.5 million at the end of March quarter.