Assure Holdings has entered into an agreement with Danam Health, in which Danam will merge with a newly formed subsidiary of Assure. Assure is an outsourced intraoperative neuromonitoring and remote neurology services provider. They have announced that the stock-for-stock deal will result in Danam surviving as a wholly-owned subsidiary of Assure.
As a result of the merger, Assure will change its name to Danam Health Holdings Corp. The combined company is intended to continue as a Nasdaq-listed company. The merger will result in a combined company that will focus on pharmaceutical and healthcare services, if completed, the companies said.
The structure of the merger is a stock-for-stock exchange, in which all of the outstanding equity securities of Danam will be exchanged for shares of Assure common stock. Current Danam stockholders are expected to own about 90% of the combined company and current Assure stockholders are expected to own about 10% of the combined company.
Both companies’ boards have approved the merger, and it is expected to close in the second quarter. For further information, contact Denny Jacob at email@example.com.