CRH Medical (NYSEAMERICAN:CRHM) stock is on the rise Monday after announcing a deal with Well Health.
Here’s everything investors need to know about CRHM stock and the company.
- The deal announced today has Well Health spending $292.7 million to acquire all outstanding shares of CRHM stock.
- This has it offering up $4 for each share of CRHM stock.
- That’s an 83% premium over the stock’s closing price on Friday.
- It’s also an 80% premium to CRHM stock’s 30-day volume-weighted average price.
- The total value of the deal comes to $369.2 million when including the credit facility.
- Well Health has commitments to financing that will allow it to fund the purchase of CRH Medical.
- Now, the deal needs approval from shareholders of CRHM stock before it can close.
- So long as there are no issues, the two companies expect the acquisition deal to reach completion in the second quarter of 2021.
- CRH Medical is a U.S. company focused on providing products and services to gastroenterologists to treat gastrointestinal diseases.
- This has it providing “provides anesthesia services for patients undergoing endoscopic procedures in ambulatory surgical centers.”
- The company currently serves 69 ambulatory surgical centers across 13 states.
- It also owns the CRH O’Regan System, which treats all grades of hemorrhoids.
- CRH Medical was founded in 2000 and joined the public market in 2006.
- Its headquarters is located in Vancouver, Canada.
CRHM stock was up 24.9% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.