Healthcare IT solutions and advisory services company HealthFore Technologies is merging with Oscar Investments, the combined entity will become a leader in healthcare technology space, the capital based firm said in a statement.
HealthFore Technologies merging with Oscar Investments will be renamed as HealthFore Technologies Ltd, the capital-based firm said in a statement.
As per the scheme of amalgamation, shareholders of HealthFore Technologies Ltd will receive three shares of Oscar Investments BSE 1.65 per cent for every 20 shares held in HealthFore Technologies Ltd, the statement added.
“The amalgamation will provide HealthFore, access to assets, a stronger capital base and talent pool generated by the merged business which can be deployed more efficiently to drive sustainable organic and inorganic growth, creating long term value for the shareholders and other stakeholders of the combined entity,” the company said.
The boards of HealthFore and Oscar have unanimously approved the scheme and will now seek requisite regulatory approvals including the shareholders’ approval.
The amalgamation will be effective from April 1, 2015, being the appointed date, under the scheme subject to receiving the mandatory approvals, the company said.
“The strong capital base resulting from the amalgamation will enable the company to invest in future technologies that will help develop innovative solutions and services to transform healthcare and provide superior value to its customers,” it added.
HealthFore Technologies shares were trading 4.62 per cent up at Rs 36.25 apiece during afternoon trade on BSE.