In a move that makes strategic sense to Morgans, Tyro Payments will acquire 100% of Medipass Solutions (MS), a digital health payments business, for $22.5m.
MS provides a link between healthcare funders, providers and the end patient. It will add scale to the Health vertical and allow a more holistic payment offering to health merchants and end users.
The Add rating is maintained and the target price is increased to $4.29 from $4.25. Morgans likes the overall growth story, with medium-term potential for further market share gains and structural payment tailwinds
Sector: Software & Services.
Target price is $4.29.Current Price is $3.63. Difference: $0.66 – (brackets indicate current price is over target). If TYR meets the Morgans target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
