ExamWorks Completes Acquisition of MedHealth Holdings Pty Limited; Enters the Australian Market
ATLANTA, GA--(Marketwire - Aug 31, 2012) - ExamWorks Group, Inc. (NYSE: EXAM), a leading provider of independent medical examinations (IMEs), peer reviews, bill reviews and related services, announced today that the Company acquired 100% of the share capital of MedHealth Holdings Pty Limited ("MedHealth") thereby gaining entrance into the IME services market in Australia. MedHealth, based in East Melbourne, Victoria, Australia, provides an integrated suite of medico-legal services including independent medical examinations, healthcare advisory services, strategies and solutions to corporations, insurers, government and the legal profession. MedHealth has grown through a combination of organic and acquisition growth and maintains a leading position in the Australian market. Pro forma revenues and pro forma adjusted EBITDA for the trailing twelve month period ended June 30, 2012 were approximately AUD $52.7 million and AUD $12.0 million, respectively, or approximately USD $55.3 million and USD $12.6 million using a conversion rate of 1.05. The acquisition expands ExamWorks' international footprint and increases its overall market presence in the IME services industry.
August 31, 2012 | Filed Under Mergers and Acquisitions