RushNet Inc. (OTCMKTS:RSHN) jumped 5% after announcing the acquisition of Grandeza Health. Grandeza is a second acquisition and will be a subsidiary of the company, joining heliosDX, which the company acquired recently.
The acquisition is a massive achievement for RushNet, which is executing a strategy of bringing smaller and profitable firms to the public. The focus us firms fostering benefits to each other, allowing them to grow organically.
Grandexa, which was established early this year as a spinout from heliosDX, is a coding and billing company operating in the health sector. Currently, the company has three laboratories where it conducts billing as well as offering other services. Grandeza anticipates rapid growth in the coming months as it plans to add a unit that will focus on temporary healthcare employment. Additional details will be available in the coming months regarding how Grandeza will tackle the market through an acquisition. Therefore, as RSHN expands its portfolio with acquisitions, it is worth watching.
Market Reaction:
On Monday, RSHN stock gained 5.40% at $0.0059 with more than 135.01 million shares, compared to its average volume of 272.52 million shares. The stock has moved within a range of $0.0054 – 0.0064 after opening the trade at $0.0054.
