Constellation Healthcare Technologies Inc (LON:CHT) is being taken private less than two years after listing on AIM in a deal that values the business at £247mln.
Constellation, a consolidator of billing businesses used by doctors in the US, is being acquired by investment US firm CC Capital and founder and chief executive Paul Parmar.
They have tabled an offer worth £2.70 a share, which is a 45% premium to last night’s closing price. The deal, which includes a promissory note worth 34.5p a share, has been recommended the board.
Chairman John Johnson said: "This deal will provide the capital that Constellation Healthcare Technologies needs to grow its business at the rate that changes in its market demands while at the same time giving an excellent return to shareholders since IPO."
Investors who backed the company when it listed in December 2014 will double their money.