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Top Glove has put months of speculation to rest. The world’s largest rubber glove manufacture is to acquire Adventa Capital-owned Aspion. Upon completion of the proposed transaction, Top Glove will emerge the world’s largest surgical glove manufacturer, in addition to being the world’s largest rubber glove manufacturer.
Grant Thornton has given the nod to plans by ASX-listed Asian American Medical Group (AAMG) to take a 95.1% stake in Hippocrates Development (HDSB) for M$91.4 million (US$21.6 million).
As Ryman Healthcare, New Zealand’s largest listed retirement village operator, released its first half figures it also announced plans to build a new NZ$95 million (US$65.3 million) retirement village in Mount Martha in Victoria.
After a challenging 2017, Virtus Health, Australia’s largest fertility clinic network, has said that financial performance in the first four months of FY18 is broadly in line with expectations.
Shares in Australian healthcare group Admedus jumped 7.4% after the group announced that it had received regulatory approval to sell the group’s regenerative tissue product in India. Syncronei Medical will be the exclusive commercial partner.
Integral Diagnostics (IDX), Australia’s fourth largest radiology group, has said that it expects to report high single digit growth in profits for 2018. This compares to previous expectations for profits to be moderately higher in the financial year.
Medical diagnostic imaging services provider Capitol Health has said that it expects to return to profitability in the next financial year and has upgraded its outlook for the year.
Paragon Care, a leading distributor and manufacturer supplying medical equipment to hospitals, has said that it is “targeting strong growth in 2018 across all key metrics”.
Malaysian medical glove manufacturer Supermax Group has reported a 42.8% jump in Q1 profits to M$27.9 million (US$6.8 million) on revenues that 16% to M$312 million.
At its annual general meeting, international pathology, imaging and medical centres operator Sonic Healthcare reaffirmed guidance for the year. Chief executive Colin Goldschmidt said that the first quarter of the 2019 financial year confirmed expectations that underlying earnings would grow between 6% and 8% on a constant currency basis.
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After Thursday’s holiday in Japan and the US, trading in Asia was distinctly lacklustre today. The only real action was in China where the Shanghai Composite continued yesterday’s 2.3% decline and was last seen off by 0.54%. A rout in the domestic bond market and concerns about a new crackdown on the wealth management industry saw domestic exchanges hit a three-month low. “I’m surprised there is surprise because anyone who took note of President Xi’s recent address at the National Congress would know that the party and the nation have primacy over the markets in his next five year plan,” said Greg McKenna, chief market strategist at AxiTrader in Sydney. Elsewhere, although the US dollar remained under pressure, the Nikkei gained 0.11% while the ASX traded flat.


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