Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Pulse Health Group Substantial Shareholder Increases Stake To 7.31% On Market

Pulse Health Group (ASX: PHG) substantial shareholder Finance Associates has increased its shareholding by 3.7 million shares, taking its stake in the company to 7.31%.

Finance Associates acquired the shares on-market last month for a total consideration of A$146,643, providing an average entry price of around $0.04.

The company continues to show confidence in Pulse Health, last month electing to participate in the placement of shortfall shares from Pulse Health's recent rights issue.

Finance Associates took up 15 million shares in Pulse Health for total consideration of $600,000.

Pulse Health Group is ideally placed in the defensive health care sector, having become profitable last year.

The company is growing its portfolio through the acquisition of the Eden Rehabilitation Hospital, an established and profitable 36 bed rehabilitation hospital currently owned and operated by Sundale Garden Village, a not for profit community association based on the Sunshine Coast.

The facility is strategically located in Cooroy, Queensland, a 30 minute drive from the existing Pulse Health facility at Gympie.

Queensland is a region under serviced for rehabilitation and the acquisition provides the company with reduced risks, time and cost of developing clinical programs, recruiting specialist staff and developing referral patterns.

Proactive Investors is a market leader in the investment news space, providing ASX "Small and Mid-cap" company news, research reports, StockTube videos and One2One Investor Forums.