SOC Telemed, an acute care telemedicine provider, today announced that it has entered into a definitive agreement to be acquired by Patient Square Capital, a health care investment firm. Under the terms of the agreement, SOC Telemed stockholders will receive $3 in cash per share of Class A common stock. The purchase price represents a premium of approximately 366.1% over SOC Telemed’s closing share price on Feb. 2, the last full trading day prior to the transaction announcement. That would give the deal an implied value of $302 million.
SOC Telemed provides acute telemedicine technology and solutions to hospitals, health systems, post-acute providers, physician networks, and value-based care organizations.
If approved, the deal is expected to close in the second quarter.
The agreement includes a 30-day “go-shop” period, which allows the SOC Telemed board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties. Read more.
