Global Care Capital has signed a letter of intent to purchase Canada-headquartered Healthview Technologies, a provider of mental health and wellness services.
Under the terms of the proposed deal, the buyer would issue 20.00 million shares and 10.00 million common purchase warrants as consideration.
An additional earn-out component comprising 20.00 million stocks would also be issued at a later date, subject to certain performance-related milestones being met on or before 31st December 2021.
The deal is classed as an arms-length transaction and as such, no changes to Global Care’s management or board are being considered at present.
Any purchase would be subject to the signing of a definitive agreement, as well as the green light from regulators and shareholders, among other conditions.
Global Care chief executive Alexander Somjen said: “Healthview’s virtual care platform will hopefully help fulfill growing employer demand for digital healthcare solutions for their workforce and prove complementary to Global Care’s existing health care related portfolio companies.”
Healthview provides wellness and mental health support to employees and companies using online technology to help businesses and their staff to maintain their mental health.
Canadian software publishers have been targeted in 121 deals announced since the beginning of 2020, according to Zephyr, the M&A database published by Bureau van Dijk.
Of these, the largest was valued at CAD 134.12 million (USD 100.62 million) and saw Apple pick up online mobile payment terminal application developer Mobeewave at the beginning of this month.
This was followed by the CAD 49.40 million purchase of enterprise asset management technology developer Viziya by Prometheus, which was agreed in May.
Other companies in the sector to have been targeted this year include the likes of Trihedral Engineering, Deep Genomics and Librestream Technologies.
© Zephus Ltd