- Advanced Human Imaging (AHI) is closing in on completing the acquisition of Pysimax Technologies after finishing due diligence
- AHI is planning to buy the Israeli-based company so it can integrate its musculoskeletal assessment technology into its own tech
- Both parties are now updating the purchase agreement to include a material reduction in the previously agreed acquisition amount
- Full details of the agreement will be released later this month, with the deal now due to be signed by July 20
- AHI shares closed down 2.31 per cent at $1.27 per share
Advanced Human Imaging (AHI) is closing in on completing the acquisition of Pysimax Technologies, after finishing due diligence.
The medical imaging company announced in April it would buy the Israeli-based business which creates musculoskeletal assessment technology.
Following the completion of the due diligence, AHI said it was confident it could successfully integrate and advance Physimax’s tech into its own.
Both parties have also agreed to update the binding acquisition agreement to materially reduce the previously agreed upon acquisition amount.
The amended details of the agreement weren’t announced, but the deal completion date has now been extended to July 20.
AHI Chairman Vlado Bosanac said the need to update the agreement was raised as part of the due diligence work.
“I am pleased we have concluded the review of the company and its IP,” Mr Bosanac said.
“The due diligence process gave rise to changes in the acquisition terms which we are now finalising into the binding acquisition agreement.
“Once those terms have been finalised, we will be working with Physimax over the coming months to combine the patented on-device 2D/3D capturing capabilities of the AHI technology, delivering a best in-class on-device musculoskeletal assessment system in readiness for distribution worldwide in early 2022.”
Advanced Human Imaging (AHI) shares closed down 2.31 per cent at $1.27 per share.