The UK genomic tools developer, RevoluGen Ltd., is pleased to announce that the all share offer to purchase Healthcare Diagnostics Ltd. (HDL) was approved by 100% of the shareholders of HDL and the shareholders of RevoluGen.
This acquisition brings together all the commercial potential of the RevoluGen technology under one entity. This is a strategic move that will significantly strengthen RevoluGen’s position.
Pieter Haitsma Mulier, CEO of RevoluGen commented “This is the last stage of the long restructuring process that began in early 2016. This restructuring included the introduction of a single share class and a new Shareholders Agreement about a year ago as well as two financing rounds. Consolidating RevoluGen’s commercial assets now makes our position much stronger.”
Adam Peake, CEO of Healthcare Diagnostics Ltd, who becomes CFO of RevoluGen commented “I am very pleased that this transaction has completed as I am confident that it will result in shareholders of HDL receiving a significant return on their investment thanks to the synergies the deal achieves. The combined entity will have a materially enhanced negotiating position in ongoing licensing discussions, resulting in all shareholders of both companies being able to achieve considerably improved returns than they could as shareholders in two separate entities.”