Respiratory imaging technology company 4DMedical will acquire Imbio, a US-based medical technology company specialising in AI-driven lung and heart diagnostic solutions.
The acquisition, valued at an upfront purchase price of US$25 million ($38.1 million), is set to be funded by a successful equity raising of $35 million through the placement of approximately 44.3 million new fully paid ordinary shares at 79 cents per share.
Following the acquisition, 4DMedical aims to provide a comprehensive cardiothoracic imaging solution and accelerate the commercialisation of XV Technology in the U.S., focusing on respiratory health improvement for veterans.
The company plans to use the raised capital to partially fund the acquisition and cover transaction costs, resulting in a pro forma net cash of $53.9 million as of Sept. 30.