FinTechFunding

People Infrastructure: Purchases SwingShift Nurses for $3.1M

  • Workforce management company People Infrastructure (PPE) has agreed to purchase a Melbourne nursing agency, SwingShift Nurses
  • The purchase is for $3.1 million and expected to be completed in the coming weeks
  • SwingShift is a leading nursing agency and is the preferred supplier to most public sector hospitals in Victoria
  • In 12 months, the business expected to generate $1 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA), following the purchase
  • PPE CEO Declan Sherman also said the purchase “highly complementary” to its existing Victorian nurse staff business
  • On market close for the day, PPE is up 3.51 per cent and is trading at $3.54 per share
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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