In an official announcement, the medical software firm MedAdvisor (ASX:MDR) has declared that it would offer share at 38 cents, 5% less from its previous close of 40 cents. The company had, surprisingly, offered shares at a 12.5% premium earlier this week when it launched a $45 million capital raising to secure funds for acquiring US-based Adheris Health.
MDR has struck a deal to take over the business from Syneos Health for US$34.5 million. This would make it a benchmark setter in direct-to-patient treatment adherence programmes in the US.
The deal is capable of garnering the company access to a network of more than 180 million and 25,000 pharmacies in the US.
MDR’s proposal on the acquisition is slated to get finalised by 16 November 2020.
Meanwhile, the stock closed at $0.400 per share at a market capitalisation of $99.17 million.