| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Medica to acquire RadM for up to $21.7m; launches £16m equity raising
StockMarketWire.com
|
Teleradiology services provider Medica said it had agreed to acquire US image contract research organisation RadMD for up to £21.7 million ( £15.6 million).
Medica also launched a £16 million equity raising to help fund the initial $16.3 million deal cost.
The acquisition also included a maximum of $5.4 million deferred consideration based on 2021 earnings performance.
New Medica shares were being offered in the raising at 145p each.
RadMD offered research services including management of all imaging aspects of clinical trials, expert image review and consulting services.
It had expertise particularly in design of early-stage trials with imaging.
'"In line with our strategy, Medica has been exploring ways in which we can harness our leading expertise in teleradiology to underpin diversification in other areas,' chief executive Stuart Quin said.
'We are pleased to deliver this with the acquisition of RadMD, which accelerates our ambition to provide radiological image reading for pharmaceutical and biotech companies.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
