Agiliti Stock Jumps After Agreeing to Buy Sizewise for $230 Million
Shares of Agiliti AGTI, a health-care technology and services provider, are higher after the company said it agreed to acquire Sizewise Rentals, a specialty hospital beds maker.
The Minneapolis company will pay $230 million of stock. Agiliti says it will finance the transaction with cash and debt.
"The combination builds on our existing geographic footprint and adds relevant scale to our equipment solutions service line," Agiliti Chief Executive Tom Leonard said in a statement.
The company also says that acquiring Kansas-based Sizewise will broaden its portfolio and clinical expertise within the specialty equipment services market, which Agiliti says is growing.
Agiliti shares were at last check up 8.1% to $22.14.
Agiliti expects the transaction to close in the fourth quarter and following the close, it will update its full-year 2021 financial guidance.