Check-up: Takeover bid puts workplace health solutions provider Konekt on top
Health & Biotech
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A takeover bid has put health solutions provider Konekt (ASX:KKT) as the unlikely leader of small cap ASX health and biotech businesses in the past fortnight.
As Stockhead‘s Dr Data Nick Sundich wrote about last week, Konekt has received a $52 million takeover offer from disability employment services giant, Advanced Personnel Management (APM). The company’s market cap prior to the bid was around $28 million; shares have risen 84 per cent since the announcement.
APM boss Michael Anghie noted the two companies were complementary and declared the takeover would enhance the services the firms offered their clients.
The offer is expected to occur in mid-December with a vote early that month. This follows a poor 2018 for the company which left its share price stagnant for most of 2019.
There was little rhyme or reason to the best performers over the past two weeks, although if you like investing in stocks that start with the letters I, M and M you’d be pretty happy: both cancer fighter Immutep (ASX:IMM) and diarrhoea drug maker Immuron (ASX:IMC) enjoyed gains of more than 20 per cent.
On the medtech side ResApp (ASX:RAP) continued its healthy run on the back of a heap of regulatory approvals for its coughing app that helps diagnose respiratory diseases, gaining 35 per cent, topped off by news it is joining a German startup accelerator.
There were no significant falls in the sector in the past fortnight, which is reflected in its performance: ASX healthcare stocks are up 8.42 per cent in the past month, making it comfortably the best-performing on the ASX.
Here are all the ASX small cap health and biotech stocks and their performance in the past fortnight:
Swipe or scroll to reveal the full table. Click headings to sort