Synergy stock up on US deal

SHARES in Synergy Health rose 7.45 per cent yesterday after the medical outsourcing group unveiled £230m-worth of new contracts in America.

The FTSE 250-listed company’s deals included a 15-year contract to sterilise hospital equipment for more than 20 care centres.

The contracts have helped Synergy increase its order book to £1.1bn.

Canaccord Genuity increased its rating from sell to hold after the contracts were announced, noting that the US is now a key driver for Synergy, given the relatively stable and mature markets in Europe.

Synergy’s shares closed at 1,110p in London yesterday, valuing the firm at more than £650m.