CloudMD Software & Services and MindBeacon Holdings have entered into a merger agreement in which CloudMD will acquire all of MindBeacon’s issued and outstanding common shares valued at $4.78 each for a combination of cash and CloudMD shares at approximately $116 million, Private Capital Journal reports
CloudMD will acquire 100% of the issued and outstanding common shares of MindBeacon, including its cash on hand of $53.9 million as at Sept. 30. The total transaction consideration is comprised of approximately $29.5 million in cash and 55.5 million common shares of CloudMD.
The announcement comes less than two weeks after MindBeacon, a provider of digital mental and behavioral health therapy, closed the acquisition of Harmony Healthcare. Read more.
