Danam Health and Assure Holdings have announced a merger agreement in which Danam will become a wholly-owned subsidiary of Assure. This stock-for-stock deal is the result of an outsourced intraoperative neuromonitoring and remote neurology services provider acquiring a newly formed subsidiary.
Following the merger, Assure will change its name to Danam Health Holdings Corp., and the combined company plans to continue as a Nasdaq-listed company. The merged company’s focus will be on pharmaceutical and healthcare services.
The merger will be structured as a stock-for-stock exchange, with all outstanding equity securities of Danam being exchanged for shares of Assure common stock. Current Danam stockholders are expected to own about 90% of the combined company, while current Assure stockholders are expected to own about 10%.
Both companies’ boards have approved the merger, which is expected to close in the second quarter. For further information, contact Denny Jacob at email@example.com.