These 3 ASX Healthcare shares have surged over 10% today

These ASX Healthcare shares have stood out today.
The post These 3 ASX Healthcare shares have surged over 10% today appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 index (ASX: XJO) is on course to finish in the green and is up 0.5% to 7,455.9 points.

At the same time, the S&P/ASX 200 Health Care index (XHJ) is also up 0.7% from the open.

Yet, these 3 ASX healthcare shares are well ahead of the broad indices today and have each climbed over 10%. Here’s why they are racing higher today.

Australian Pharmaceutical Industries Ltd (ASX: API)

Australian Pharmaceuticals’ share price is on the move today after the company received a revised offer from Wesfarmers Ltd (ASX: WES) to acquire the company, on an all cash deal of $1.55 per share.

API shares have gained 16.5% since the open following this announcement.

Its board has unanimously recommended the decision, after rejecting the original $1.38 per share proposal back in July. The revised offer represents a 4.8% premium to API’s current share price of $1.48.

Wesfarmers has until 16 October to conduct its due diligence, after which it will be all systems go to get the deal done, so it appears.

Healthia Ltd (ASX: HLA)

The Healthia share price is surging on Thursday after the company announced another acquisition to its list.

Healthia shares are soaring 10% after the company advised it has entered into a binding agreement to acquire Rothwell Physiotherapy.

Rothwell is a Brisbane based Physiotherapy clinic, which services the Moreton Bay area. Its services include musculoskeletal and spinal physiotherapy, alongside injury rehabilitation.

Healthia completed the transaction on an all cash payment of $1.3 million. A provision of $320,000 is baked into the deal if stipulated earnings targets are hit. The acquisition is expected to finalise on or before 30 November.

Investors have bought the news, and the Healthia share price is now exchanging hands at $1.98 a piece, up from yesterday’s close of $1.80.

Anteotech Ltd (ASX: ADO)

The Anteotech share price is charging higher today and is currently up 7% to 22.5 cents. At one point today, it was trading at 24 cents apiece, a 14% jump from the previous close.

Anteotech shares are lifting after the company announced it had signed a distribution agreement with Ramma Dental. Ramma is to become the exclusive distributor of the company’s EuGeni reader platform and COVID-19 Antigen Rapid Diagnostic Test in both Greece and Cyprus.

EuGeni is Anteotech’s “rapid diagnostic platform” that is integrated to perform a rapid SARS-CoV-2 (COVID-19) antigen test using a nasal swab.

Ramma Dental has “a strong network of customers across public and private sectors”, as per Anteotech’s announcement.

As a result of the agreement, Anteotech has now secured distribution agreements for EuGeni in 13 markets, having signed a similar distribution contract in Turkey last week.

These three ASX healthcare shares have each outpaced the benchmarks today.

The post These 3 ASX Healthcare shares have surged over 10% today appeared first on The Motley Fool Australia.

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More reading

This year’s ASX 200 Santa Rally to get a whopping $84bn cash boost

Why the AnteoTech (ASX:ADO) share price is advancing 9% today
Why Anteotech, API, Myer, & Whitehaven Coal shares are charging higher

API (ASX:API) share price rockets 16% as Wesfarmers boosts offer
Why the Healthia (ASX:HLA) share price is rocketing 10% today

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended HEALTHIA FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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