Medicalgorithmics may become target of acquisition by American company

Medicalgorithmics signed a nonbinding letter of intent for a Nasdaq-listed U.S. medical technology company to acquire 100% of its shares. The proposed consideration is at least $67 mln (PLN 261 mln), primarily in the buyer’s common shares rather than cash. Shares issued in the transaction would represent no more than 49% of the acquirer’s voting rights before issuance, subject to negotiation. Closing would require due diligence, a definitive agreement, and corporate, regulatory, and exchange approvals.

Medicalgorithmics must also secure at least €10 mln in non-debt equity financing before or alongside the final agreement. The parties have 30 days of exclusive negotiations, but neither is required to complete the deal. Medicalgorithmics shares rose 9% to PLN 27.40.

(pb.pl)