Oncologix Tech Inc (OTCMKTS:OCLG), a leading diversified and fully reporting medical holding company, has decided to announce updates about recent acquisitions. Oncologix Tech is active in healthcare services, medical device field, and durable medical product sales and distribution.
Insights on Company’s Acquisition Status:
Oncologix has decided to take forward its previously announced acquisition target. As per the reports, it is anticipated to generate over $9.8 million in revenues. It has been trying hard to expand the reach of its durable medical or home medical equipment for a long time. Recently, Oncologix added an extra acquisition candidate to its DME department. The acquisition target is located in the same area as the target company.
There are strong chances that these acquisitions will increase the annual EBITDA by $3.3 million and overall revenue by a minimum of $19.5 million on an annual basis. With the help of these multiple acquisition options, it can enjoy operational synergy across DME/HME platforms.
Plans After Initiating Acquisitions:
There are multiple results that Oncologix will face on the successful execution of all the proposed acquisitions. The convertible debt of the company will come down, which will further reduce the dilution of shareholders. The subsidiary debt will be eliminated completely, which will enhance operational cash flow and offer internal organic growth.
The major change is seen in the form of Oncologix’s return to OTC bulletin board. At last, the company is going to evaluate a potential stock repurchase plan that will play a vital role in strengthening its shareholder value and stock prices.
The senior management of the company is focused on uninterrupted growth in the coming days. According to Wayne Erwin, CEO, Oncologix Tech Inc (OTCMKTS:OCLG), the primary objective at present is to close all the proposed acquisition deals as soon as possible. For the same cause, Oncologix is working hard on underwriting and due diligence. It looks forward to focusing on the next phase once these acquisition transactions are over.