Medica Group Plc (LSE:MGP) entered into an agreement to acquire Global Diagnostics (Ireland) Limited from Centric Health for €20 million on November 4, 2020. Global Diagnostics (Ireland) Limited will be acquired on a cash-free and debt-free basis, with €16 million payable in cash at completion together with customary adjustments for acquired cash, debt and normalized working capital at completion. A maximum of €4 million deferred consideration will be paid based on contractual milestones payable over the next few years. Costs of approximately £0.7 million (€0.78 million) plus Irish stamp duty at 1% of total consideration will be charged to the P&L in the current financial year. In order to support the acquisition, Medica has agreed an extension to its undrawn revolving credit facility from £1 million to £6 million (€1.1 million to €6.67 million) and this has been fully drawn down at completion in Euro denominated funds. Interest on the new facility is at LIBOR + 3.0% margin with a commitment to move away from LIBOR before June 30, 2021. Terms on the existing term debt facility remain unchanged. The balance of the completion payment of approximately €9.4 million has been funded out of existing group cash. For the year ended June 30, 2020, Global Diagnostics reported revenues of €7.3 million, adjusted EBITDA of €1.1 million, adjusted profit before tax of €0.7 million and total assets of €0.7 million. Caroline Byrne will join the Medica executive team as Managing Director. Medica expects the acquisition to be strongly accretive to earnings for the financial year ending December 31, 2021 and return on invested capital expected to be approximately twice the cost of capital. Sara Hale and Daniel Adams of Investec Bank plc acted as financial advisors to Medica Group Plc. Catherine Hicks, Lorcan Tiernan, Conor Keaveny and David Lawless of Dillon Eustace Solicitors acted as legal adviser for Centric Health Ltd. Eanna Mellett, Edel O'Kelly, Maura Dineen, Treena Dunlea-Peatross, Mark Rasdale, John Magee, Paulina Serafieva, Alice Duffy, Graham Quinn, Kate Curneen and Lorraine Hearne of DLA Piper International LLP acted as legal adviser for Medica. Medica Group Plc (LSE:MGP) completed the acquisition of Global Diagnostics (Ireland) Limited from Centric Health on November 4, 2020.