8th Jun 2021 10:59
(Alliance News) - Craneware PLC on Tuesday raised USD193.5 million via a share placing to fund the acquisition of US-based Sentry Data Systems Inc.
Craneware delivers value cycle via its cloud-based Trisus platform, which collects, analyses, compares, verifies and corrects data so US hospitals can improve their financial and operational performance as well as patient outcomes.
Craneware raised the funds via the placement of 6.2 million shares at 2,200 pence each. Goldman Sachs International, Peel Hunt LLP, Investec Bank PLC, Investec Europe Ltd and Joh Berenberg, Gossler & Co KG acted as joint bookrunners.
Craneware shares sunk 11% at 2,170.00 pence each in London on Tuesday mid-morning.
The placing was proposed on Monday with the aim of raising GBP140 million to help fund the acquisition of Sentry, which will cost USD400 million.
Deerfield Beach, Florida-based Sentry is a provider of SaaS solutions which simplify the complexity of pharmacy procurement. It also provides business intelligence and consulting services.
By Greg Roxburgh; [email protected]
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