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ShareRoot raising funds via entitlement offer to grow digital healthcare business

Directors and management of the company are committed to participating in the offer.

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ShareRoot now has a technology pipeline loaded with four competitive opportunities

ShareRoot Ltd (ASX:SRO) is undertaking a non-renounceable pro-rata entitlement offer to raise up to $954,342 at an issue price of one cent per share.

Eligible shareholders can subscribe for two new shares for every three shares held.

ShareRoot recently completed a restructure and now has a clear path forward to a successful business in the digital healthcare industry.

The company is looking to leverage the momentum in compliantly accessing real world data and real world evidence in healthcare, by using artificial intelligence, machine learning and a proprietary analysis process to gain deeper insights in order to deliver better healthcare and more patient-centric development of new medicines, medical devices and clinical practice.

READ: ShareRoot transforming into multi-platform digital healthcare company

Management anticipates that the entitlement offer will provide capital for the company to drive towards profitability in the near term.

ShareRoot CEO Michelle Gallaher said: “We now have a secure framework for value creation in place, a sharper focus on revenue-generating services and development priorities, improved operational support and technical skills.

“ShareRoot has a clear, well researched and viable strategy to be a competitive leader in the rapidly growing global digital healthcare industry.”

ShareRoot’s forecast revenue for the current financial year is about $850,000. This result is a 90% increase from the previous year.

Gallaher added: “Given the considerable uphill challenge we found ourselves in, the past five months have been nothing short of transformative for ShareRoot.

“The company now has a technology pipeline loaded with four competitive opportunities to capture a leading edge in the global digital healthcare sector.

“What we are developing is a unique convergence of artificial intelligence, real world healthcare data and social media, one of the most exciting new frontiers in the escalating digital transformation taking place in health.”

Quick facts: ShareRoot Ltd

Price: 0.002 AUD

ASX:SRO
Market: ASX
Market Cap: $5.92 m
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