Assure Holdings Corp. Announces Business Combination With Danam Health, Inc.; Assure Will Change Its Name To "Danam Health Holdings Corp."
Portfolio Pulse from Benzinga Newsdesk
Assure Holdings Corp. (NASDAQ:IONM) announced a merger with Danam Health, Inc., where Danam will merge into a subsidiary of Assure in a stock-for-stock transaction. Post-merger, Assure will be renamed Danam Health Holdings Corp. and will focus on pharmaceutical and healthcare services. The combined company will be Nasdaq-listed, with Danam stockholders owning approximately 90% and Assure stockholders owning about 10%. The merger, valued at $150 million, is expected to close in Q2 2024, subject to approvals and conditions.
February 12, 2024 | 2:59 pm
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Assure Holdings Corp. is merging with Danam Health, Inc., resulting in a new entity named Danam Health Holdings Corp., focusing on expanding in the pharmaceutical and healthcare sectors. Assure stockholders will own about 10% of the new company.
The merger between Assure Holdings and Danam Health is significant for IONM stockholders as it transforms the company's focus towards healthcare services and pharmaceuticals. The ownership structure post-merger, with Assure stockholders owning a smaller portion, might initially raise concerns about dilution but also indicates a substantial expansion and potential growth in a new sector. The merger's success and the new company's performance in the healthcare sector will be critical for the stock's future direction.
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