The company has completed the acquisition of Imaging Queensland for consideration up front of $104m. Morgan Stanley already includes the associated capital raising in forecasts and now includes the earnings associated with the acquisition.
The company has upgraded FY18 guidance to net profit growth of around 20% versus prior expectations for "high single digit growth". This has been driven by acceleration in referrals, particularly in Western Australia, and implementation of cost reductions.
Integral Diagnostics is the fourth largest diagnostic imaging operator in Australia. Credit Suisse notes the industry has been growing at a five year compound rate of 7.2%, supported by a favourable funding environment.