QBE has announced the sale of its Latin American operations for US$409m. This will include operations in Argentina, Brazil, Colombia, Ecuador and Mexico (with Puerto Rico to be rolled into QBE’s North American operations). The will assist with the company’s strategy of simplifying the business, reducing risk and improving the consistency of QBE’s financial results.
Paragon Care announced the acquisition of Surgical Specialities Group, a distributor of surgical medical devices. The company made $4.9m EBITDA in FY-17, is experiencing strong growth this financial year, and is expected to be earnings accretive for Paragon from FY-18. This acquisition is one of a number that are imminent and which the recent equity raising will assist to fund.