Custom Health Holdings Inc (TSX:CHLT) has signed a binding letter of intent to acquire Wisconsin-based Evergreen Pharmacy LLC in a deal expected to add more than US$78 million in annual revenue to the company.
Under the terms of the letter of intent, Custom Health will pay a total purchase price of US$3.5 million, including at least US$1 million of prescription drug inventory and US$450,000 of net working capital. The purchase price is payable in cash on closing, subject to a US$175,000 indemnity holdback for six months following closing.
The acquisition is expected to strengthen Custom Health's ability to support patients managing complex therapies and expand its operating footprint across the US Midwest.
Shares of Custom Health were up 8.3% in Canada.
Evergreen is licensed to provide pharmacy services in Wisconsin, Illinois and Michigan, with the ability to expand into Minnesota.
#letter
Under the terms of the letter of intent, Custom Health will pay a total purchase price of US$3.5 million, including at least US$1 million of prescription drug inventory and US$450,000 of net working capital. The purchase price is payable in cash on closing, subject to a US$175,000 indemnity holdback for six months following closing.
The acquisition is expected to strengthen Custom Health's ability to support patients managing complex therapies and expand its operating footprint across the US Midwest.
Shares of Custom Health were up 8.3% in Canada.
Evergreen is licensed to provide pharmacy services in Wisconsin, Illinois and Michigan, with the ability to expand into Minnesota.
#letter
6 days ago
