Healthcare Services Group Inc

Healthcare Services Group announced on Wednesday that it has acquired NEXDINE Hospitality, a dining and hospitality service management firm, for an upfront purchase price of $93.5M. HCSG said it funded the transaction with cash on hand, and NEXDINE is expected to generate more than $150M in annual revenue. Additional payments to NEXDINE investors are contingent on the company achieving certain performance metrics. After the deal, the Mansfield, MA-based NEXDINE will operate as a wholly-owned subsidiary of HCSG, which manages environmental and dietary services for the healthcare industry, expanding its presence in the senior living market. NEXDINE will retain its existing headquarters and its current leadership team, including founder and CEO David Lanci.

Zacks Investment Research added five stocks to its Zacks Rank #1 (Strong Buy) List for September 11th. RCM Technologies, a national provider of business, technology and resource solutions in information technology and professional engineering to corporate and government customers, saw its Zacks Consensus Estimate for current-year earnings rise 13.3% over the last 60 days. Healthcare Services Group, which provides housekeeping, laundry, linen, facility maintenance and food services to the health care industry, posted a 12.9% increase in its consensus estimate for current-year earnings over the same period. Bloomin' Brands, the casual dining restaurant company with a portfolio of differentiated restaurant concepts, recorded a 10.1% gain in its current-year earnings estimate, while Argan, an engineering and construction firm operating through wholly owned subsidiaries across power generation, industrial construction and teledata infrastructure, saw a 6.7% increase. Globus Medical, a medical device company that develops and commercializes healthcare solutions for patients with musculoskeletal disorders, rounded out the list with a 5.3% rise in its current-year earnings estimate over the last 60 days.