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IXICO acquires Optimal Medicine to broaden brain health expertise

IXICO has agreed a to buy the US-based digital healthcare specialist for £1.5mln .

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Like IXICO, Optimal Medicine specialises in brain health

IXICO (LON:IXI) is looking to tackle the US healthcare market after agreeing to buy Optimal Medicine, a US-based digital healthcare specialist, for £1.5mln .

Brain health specialist IXICO will pay 49p per share, a 53% premium to Optimal’s closing mid-market price yesterday, should shareholders approve the deal at the next general meeting.

Like IXICO, Optimal Medicine specialises in brain health, in particular in attention deficit hyperactivity disorder (ADHD) and behavioural health.

The deal will broaden the company’s products and gives it access to the US market, the biggest digital healthcare market globally, IXICO said.

Derek Hill, chief executive, added: “The acquisition of Optimal Medicine helps us to accelerate our overall strategy towards IXICO becoming a leader in digital healthcare for brain health.

“Optimal Medicine has built an extensive database that is used by clinicians in the US and complements IXICO's existing data and technology in dementia and other neuro-degenerative diseases."

The deal will be funded by a conditional placing of 8.8mln shares at 30.5p per share, a small discount of 4.7% on last night’s close.

IXICO aims to raise around £2.7mln with the remainder used to grow the enlarged business after the acquisition.

Quick facts: IXICO PLC

Price: 104 GBX

AIM:IXI
Market: AIM
Market Cap: £48.97 m
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