The company will acquire Propeller Health, a US provider of monitoring devices for those with COPD and asthma. The purchase price is US$225m, to be funded by debt.
UBS believes the transaction make strategic sense as it extends the company’s connected health solutions.
The broker maintains a Neutral rating and raises the target to US$111 from US$107.
Sector: Health Care Equipment & Services.
Current Price is $15.17. Target price not assessed.