M*Modal and One Equity Partners extend acquisition offer, enter MOU

Lisa Fratt | | Health Imaging | Screening
Calendar Use - 36.94 Kb
M*Modal and One Equity Partners have announced that in connection with the previously announced merger, Legend Acquisition Sub (an affiliate of OEP) has extended the expiration of its tender offer to acquire all outstanding shares of common stock of M*Modal for $14.00 per share, to 11:59 pm EST, on Aug. 14.

The tender offer was previously scheduled to expire at 11:59 pm EST on Aug. 13. All other terms and conditions of the tender offer remain unchanged.

As of Aug. 7, more than 18.67 million shares of common stock of M*Modal had been validly tendered and not withdrawn pursuant to the tender offer, according to M*Modal.

M*Modal and OEP have entered into a memorandum of understanding (MOU) in connection with class action lawsuits related to the proposed acquisition by OEP. In addition to the extension of the offer, the MOU releases financial sponsors, except OEP affiliates, from standstill agreements related to buyout talks earlier in 2012.


 

Lisa Fratt

Related Content

What breast density status can tell us about cardiovascular risk
FDA clears AI tool that flags signs of heart disease in chest CT scans
Patients without PCPs struggle to access lung cancer screening, despite eligibility
Breast cancer rates among women in their 30s are on the rise
Singing radiologist pens song to clear up confusion about breast cancer screening recs
AI loaded onto mammography systems can flag possible cancers in real time to speed workflows

Around the web

Cardiovascular Business
Positron partners with Upbeat Cardiology Solutions to improve cardiac PET/CT access

Positron, a New York-based nuclear imaging company, will now provide Upbeat Cardiology Solutions with advanced PET/CT systems and services. 

Cardiovascular Business
Global shortage of nuclear imaging isotopes may be over

The nuclear imaging isotope shortage of molybdenum-99 may be over now that the sidelined reactor is restarting. ASNC's president says PET and new SPECT technologies helped cardiac imaging labs better weather the storm.

Cardiovascular Business
‘A huge win’: CMS significantly increases Medicare payments for cardiac CT

CMS has more than doubled the CCTA payment rate from $175 to $357.13. The move, expected to have a significant impact on the utilization of cardiac CT, received immediate praise from imaging specialists.