Advanced Human Imaging (ASX:AHI) - CEO, Vlado Bosanac
CEO, Vlado Bosanac
Source: LinkedIn
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Advanced Human Imaging (AHI) is closing in on completing the acquisition of Pysimax Technologies after finishing due diligence
  • AHI is planning to buy the Israeli-based company so it can integrate its musculoskeletal assessment technology into its own tech
  • Both parties are now updating the purchase agreement to include a material reduction in the previously agreed acquisition amount
  • Full details of the agreement will be released later this month, with the deal now due to be signed by July 20
  • AHI shares closed down 2.31 per cent at $1.27 per share

Advanced Human Imaging (AHI) is closing in on completing the acquisition of Pysimax Technologies, after finishing due diligence.

The medical imaging company announced in April it would buy the Israeli-based business which creates musculoskeletal assessment technology.

Following the completion of the due diligence, AHI said it was confident it could successfully integrate and advance Physimax’s tech into its own.

Both parties have also agreed to update the binding acquisition agreement to materially reduce the previously agreed upon acquisition amount.

The amended details of the agreement weren’t announced, but the deal completion date has now been extended to July 20.

AHI Chairman Vlado Bosanac said the need to update the agreement was raised as part of the due diligence work.

“I am pleased we have concluded the review of the company and its IP,” Mr Bosanac said.

“The due diligence process gave rise to changes in the acquisition terms which we are now finalising into the binding acquisition agreement.

“Once those terms have been finalised, we will be working with Physimax over the coming months to combine the patented on-device 2D/3D capturing capabilities of the AHI technology, delivering a best in-class on-device musculoskeletal assessment system in readiness for distribution worldwide in early 2022.”

Advanced Human Imaging (AHI) shares closed down 2.31 per cent at $1.27 per share.

AHI by the numbers
More From The Market Herald
Arovella Therapeutics (ASX:ALA) - CEO and Managing Director, Dr Michael Baker

" Arovella Therapeutics (ASX:ALA) to raise $6m for cell therapies

Arovella Therapeutics (ASX:ALA) has received firm commitments from institutional and sophisticated investors for a $4.57 million…

" Radiopharm Theranostics (ASX:RAD) acquires IP ownership of Radiopharmaceutical Nanobodies

Radiopharm Theranostics (ASX:RAD) acquires full intellectual property (IP) ownership to three assets from NanoMab Technology.
Nuheara (ASX:NUH) - CEO, Justin Miller

" Nuheara (ASX:NUH) completes $1.06m SPP

Hearing technology company Nuheara (ASX:NUH) has completed its share purchase plan (SPP) with applications totalling $1,067,200.
Anteris Technologies (ASX:AVR) - Chief Executive, Wayne Paterson

" Anteris Technologies (ASX:AVR) reports positive data from first-in-human heart valve trial

Meditech specialist Anteris Technologies (ASX:ARV) has reported "excellent" results from the first-in-human trial of its DurAVR…