Sensyne Health PLC (AIM:SENS) ended the formal sales process following the refinancing of the business, which is expected to be de-listed from AIM.
It follows the appointment of City veteran and Evolution Group founder Alex Snow as the chief executive, effective Monday (April 19).
He has been parachuted in to replace the ousted founder and chairman, former Labour science minister Lord (Paul) Drayson.
Snow will oversee a refinancing of the medical data specialist led by a consortium of investors including Gatemore Capital Management, which will pump an additional £20mln into the business.
Snow will be allowed to invest up to £2mln of his own cash in B and C notes issued as part of the restructuring.
For more details click here