Australia-based workforce management company People Infrastructure announced that it has completed the acquisition of Network Nursing Agency and the Australian Healthcare Academy, which is part of Network Nursing Agency.

People Infrastructure first announced that it would acquire the nursing agency earlier this month.

Network Nursing Agency is a Sydney-based nursing agency focused in supplying general, critical care, mental health, midwifery, aged care nurses, and facilitation to private and public healthcare clients.

Australian Healthcare Academy, is a provider of healthcare training and education to healthcare professionals in Australia.

According to People Infrastructure, the acquisition will allow the group to expand its disability and community care workforce management business and increase its offerings in healthcare sector into nursing.

The acquisition price for Network Nursing Agency is AUD 8 million (USD 5.7 million) payable in cash on closing. There will also be an opportunity for the vendors to receive further consideration as: If the FY19 EBITDA exceeds AUD 2.65 million (USD 1.9 million) then a further $0.55 million (USD 0.4 million) in cash consideration; or if the FY19 EBITDA exceeds AUD 2.8 million (USD 2.0 million) then a further AUD 1.1 million (USD 0.7 million) in cash consideration. It is expected that the acquisition will be completed in the coming weeks.