• Mon. Feb 26th, 2024

Assure Health Acquires Danam Health in $100 Million Stock-for-Stock Deal, Becoming a Leader in Pharmaceutical and Healthcare Services

ByEditor

Feb 12, 2024
Assure Holdings and Danam Health Reach Agreement for Business Merger

Danam Health has agreed to merge with a newly formed subsidiary of Assure Holdings in a stock-for-stock deal. This will make Danam a wholly-owned subsidiary of Assure, which provides outsourced intraoperative neuromonitoring and remote neurology services.

Following the merger, Assure will change its name to Danam Health Holdings Corp., and the combined company is intended to continue as a Nasdaq-listed company. The merger will result in a combined company that will focus on pharmaceutical and healthcare services.

The merger is structured as a stock-for-stock exchange, with all outstanding equity securities of Danam being exchanged for shares of Assure common stock. Current Danam stockholders are expected to own about 90% of the combined company, while current Assure stockholders are expected to own about 10% of the combined company.

Both companies’ boards have approved the merger, which is expected to close in the second quarter. For further information, contact Denny Jacob at denny.jacob@wsj.com.

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