/NOT FOR DISTRIBUTION TO
IN THE
- Clinic 360 works with more than a dozen specialists and surgeons, maintaining two highly equipped operating rooms with capacity to contribute to addressing provincial elective surgery backlog
- Clinic 360 will become consumer of all
Think Research digital health SaaS products, showcasing clinical best practices for clinicians, enabling instant feedback to refineThink Research's software and bringing new products to market faster - A meaningful and immediate contributor of revenue and accretive profit. As of
December 31, 2020 , Clinic 360 generated trailing twelve-month revenue of approximately$3.9 million (unaudited) and EBITDA of approximately$0 .8mm (unaudited).
This acquisition builds on the previously announced acquisition by
Dr.
Details of the Transaction
- Consideration for the Transaction consisted of: (a) a cash payment of
$250,000 ; and (b) the issuance of a total of 1,127,732 common shares in the capital of the Company (the "Common Shares"), in each case, pro rata to the vendors of Clinic 360. - On closing, a finder's fee was paid to
Baker Tilly Vaughan Valuations Inc. via the issuance of 55,285 Common Shares. - All dollar amounts are in Canadian dollars.
About
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "budget," "believe," "project," "estimate," "expect," "scheduled," "forecast," "strategy," "future," "likely," "may," "to be," "could,", "would," "should," "will" and similar references to future periods or the negative or comparable terminology, as well as terms usually used in the future and the conditional. Examples of forward-looking statements include, among others, the projected impact of completion of the Transaction on the Company's business, financial conditions and results.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results and financial conditions to differ materially from those indicated in the forward-looking statements include, among others, risks relating to general economic, market and business conditions, and unforeseen delays in the timelines for any of the transactions or events described in this press release. The Company has assumed that the material factors referred to above will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Other than as required under securities laws, the Company does not undertake to update this information at any particular time.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in
Neither
SOURCE
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