• Wed. Feb 21st, 2024

Assure Holdings and Danam Health Announce Merger Agreement to Form a New Subsidiary under Assure Umbrella

ByEditor

Feb 12, 2024
Assure Holdings and Danam Health Reach Agreement for Business Merger

Assure Holdings and Danam Health have come to terms on a merger agreement, with Danam becoming a wholly-owned subsidiary of Assure. This stock-for-stock deal will result in the formation of a new subsidiary under the umbrella of Assure, which provides outsourced intraoperative neuromonitoring and remote neurology services.

Following the merger, Assure will change its name to Danam Health Holdings Corp., and the combined company is intended to continue trading on the Nasdaq stock exchange. The merger aims to focus on pharmaceutical and healthcare services, resulting in a combined entity that will be well-positioned to provide comprehensive solutions to patients and healthcare providers.

The merger is 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% of the combined company.

Both companies’ boards have approved the merger, which is expected to close in the second quarter. For more information on this exciting development, please contact Denny Jacob at denny.jacob@wsj.com.

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