Sanara MedTech (NSDQ:SMTI) announced today that it entered into a definitive merger agreement with Precision Healing.
Fort Worth, Texas-based Sanara’s agreement will result in Precision Healing merging with and into a wholly-owned subsidiary of Sanara, with both companies’ boards of directors approving the transaction.
According to a news release, the companies expect the merger, which also received the requisite approval of Precision Healing stockholders, to close today.
Before the transaction, Sanara owned 25.7% of Precision Healing on a fully diluted basis. The purchase price for the merger includes approximately $5.1 million in stock and cash consideration, the majority of which will be paid by Sanara in stock with a limited number of non-accredited investors receiving cash. Sanara said it expects to enter into employment agreements with all “key” Precision Healing employees.
Precision Healing designs the Precision Heal…