1st Group Limited (ASX: 1ST), announced that it has obtained commitments from institutional, sophisticated and professional investors for a placement of $2.6m and has also launched an SPP.
The placement was massively oversubscribed and followed a number of major recent announcements of new deals with Medibank Private, Benestar Group (owned by Zurich Insurance) who are funding the company’s entry into the psychology market and St Vincent’s Health Australia which together with normal organic growth will likely see the company add many thousands of new sites/customers over the coming months.
These are significant new deals which are set to accelerate the company’s growth over the next 12 months. Prior to these deals the company had announced it had 9,200 sites and taken over 9m appointments online. The company is already #1 in Pharmacy, #1 in Independent Optometry, #1 in Veterinary and with these new deals is lining itself up to become market leaders in Dental, Psychology and the Specialist market.
Through its platforms MyHealth1st.com.au and PetYeti.com.au, 1st Group is transforming the way Australian’s and New Zealander’s access and interact with healthcare services, by moving more of what we do as consumers onto more convenient digital channels that are available 24/7.
This is an exciting ASX listed company that is set to join the other major online success stories of the last decade.