- 4DMedical (ASX:4DX) is set to acquire Imbio for an upfront purchase price of $38.5 million
- The company raises $35 million through a placement of new shares to institutional investors
- Imbio’s suite of diagnostic products, including four FDA-cleared offerings, complements 4DX’s existing portfolio
- The acquisition accelerates 4DX’s presence in the US market, a key growth area
- 4DX shares last traded at 84.5 cents
4D Medical (ASX:4DX) has announced the acquisition of Imbio, a leading US-based medical technology company specialising in AI-driven solutions for lung and heart diagnostics.
This strategic move aligns with 4DX’s growth strategy, strengthens its position in the lung diagnostics market, and accelerates the commercialisation of its XV Technology in the US.
To fund the upfront cash portion of the acquisition, the company has completed a capital raising of $35 million through a placement to new and existing institutional shareholders.
The placement involved the issuance of 44.3 million new shares at an offer price of 79 cents each, representing a 17.3 per cent discount to the last closing price on December 6, 2023.
Subject to shareholder approval, participants in the placement will receive one free-attaching option for every two shares issued. The exercise price is $1.36, with an expiry date of December 31, 2025.
With the pro forma net cash position expected to reach $53.9 million after the placement, 4DMedical is well-positioned to integrate Imbio seamlessly.
Imbio is set to be acquired for an upfront purchase price of US$25 million (A$38.5 million). This broadens 4DMedical’s product offering to clinicians by incorporating Imbio’s suite of diagnostic products, including four FDA-cleared offerings.
“I am extremely excited to join forces with the incredibly talented and committed Imbio team, Imbio’s market-leading suite of AI solutions provides life-changing insights from CT scans, and perfectly complements 4DMedical’s functional imaging technology,” 4DX Founder and CEO Andreas Fouras said.
“We now offer a comprehensive cardiothoracic imaging solution set to providers and their patients.
“Importantly, the Imbio acquisition also significantly boosts our capacity to improve the respiratory health of Veterans, especially for those impacted by toxic exposures during service.”
By leveraging Imbio’s validated and market-leading insights with 4DMedical’s automated point-of-care radiology workflows, the collaboration aims to make lung disease diagnosis more comprehensive, objective, personalized, and widely accessible.
4DX shares last traded at 84.5 cents.