Medical technology company, Volpara (ASX:VHT) has today announced it will snap up US-based medical software company, MRS Systems for US$14.59 million.
Volpara says the acquisition provides it with an expanded and mature presence in the US, with an enlarged sales footprint and technical support and product suites that are highly complementary.
To fund the Acquisition Volpara will launch a fully underwritten equity capital raising consisting of an institutional placement to raise A$45 million and a pro rata accelerated non-renounceable entitlement offer to raise approximately A$10 million.
Completion of the Acquisition is expected to occur around mid-June 2019, subject to the satisfaction of customary conditions precedent.
Shares in Volpara (ASX:VHT) are on a trrading Halt and last traded at $1.85.