Medica eyes imaging CRO market with bid for RadMD

By AuntMinnie.com staff writers

March 22, 2021 -- U.K. and Ireland teleradiology services provider Medica has signed a conditional agreement to buy imaging contract research organization (CRO) RadMD for up to $21.7 million in cash.

The deal, which would provide Medica with access to the $1 billion imaging CRO market and help the company to expand into other geographies, is conditional on the completion of a private placement of shares to raise the funds needed for the acquisition.

Medica would pay an initial $16.3 million (11.7 million pounds) in cash up front for the Conshohocken, PA-based firm, as well as up to an additional $5.4 million (3.9 million pounds) based on 2021 financial performance. The company said it anticipates the deal would be accretive to earnings in its first year.


Copyright © 2021 AuntMinnie.com
 
Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: