News and Announcements
MedAdvisor Completes Healthnotes Acquisition
- Published October 31, 2016 3:00PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
31st October 2016, ASX Announcement
MedAdvisor Limited (ASX: MDR, the Company), Australia’s leading digital medication management company, is pleased to announce it has completed the acquisition of Health Enterprises 2 Pty Ltd (“Healthnotes”), a leader in healthcare technology for medication adherence.
The acquisition was for a total consideration of $5.5 million, paid as 60% cash and 40% scrip. 57,894,737 shares have been issued to the Healthnotes vendors at $0.038 a share and a $3.3 million cash consideration has been paid. A further $0.7m in transaction costs have also been paid for a total cash outflow of $4m.
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