23rd Sep 2016 06:41
LONDON (Alliance News) - US-based healthcare company Constellation Healthcare Technologies Inc on Friday said it has agreed to acquire VEGA Medical Professionals LLC for up to USD24.0 million.
VEGA is a revenue-cycle management firm focused on hospitals and independent physician groups in the US market. It provides healthcare practice management and consulting services, including billing, collections, operations and financial management advice.
The deal will expand London-listed Constellation's overall offering and its areas of expertise for the US healthcare market, the company said.
Constellation will pay up to USD24.0 million for VEGA, with USD14.4 million to be paid upfront and the remainder over the three years after completion based on VEGA hitting performance targets.
The consideration will be paid 78% in cash and 22% in Constellation shares, the company said. The initial consideration includes just under 2.0 million Constellation shares priced at 140.00p apiece. Shares in the company closed at 179.00p on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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