Resonance Health has acquired TrialsWest, an Australian clinical research centre, for up to $8 million, contingent on EBITDA performance until FY26.

The move aims to bolster Resonance Health's presence in clinical trials, tapping into TrialsWest's expertise in global medicine and vaccine facilitation.

The acquisition involves an initial $4 million payment, with a potential earnout of $4 million. Funding comes from cash reserves and a new debt facility.

On a FY24 proforma basis, the deal is projected to add $2 million in revenue and $650,000 in EBITDA.