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ShareRoot raises more than $509,600 to advance digital healthcare strategy

The company has received interest for shortfall shares which could raise an additional $444,700.

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ShareRoot has a clear path forward to a successful digital healthcare business

ShareRoot Ltd (ASX:SRO) has raised more than $509,600 from eligible shareholders in a non-renounceable pro-rata entitlement offer.

The shortfall under the offer could raise up to approximately $444,731 for which the company has fielded interest.

Directors reserve their right to allot the shortfall at their discretion within three months of the closing date.

The company is in discussions with a number of parties and brokers in relation to the shortfall shares.

READ: ShareRoot raising funds via entitlement offer to grow digital healthcare business

Directors and management previously committed to participate in the offer.

Funds from the entitlement offer will provide capital for the company to drive towards near-term profitability.

READ: ShareRoot transforming into multi-platform digital healthcare company

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

The company is looking to leverage 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.

This will enable the delivery of better healthcare and more patient-centric development of new medicines, medical devices and clinical practice.

READ: ShareRoot signs three new clients for its AI-powered digital health insights platform Opyl

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.

“The company 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,” she said.

Quick facts: Opyl Ltd

Price: 0.09 AUD

Market: ASX
Market Cap: $2.66 m

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