McGrathNicol Advisory advises MedAdvisor Limited (ASX:MDR) on its c.USD34.5 million acquisition of Adheris
04 December 2020
McGrathNicol Advisory advised MedAdvisor Limited (ASX:MDR) on its c.USD34.5 million acquisition of Adheris Health from Syneos Health, Inc (NASDAQ: SYNH) which completed on 17 November 2020. The final purchase price is subject to a number of earn-out payments linked to Adheris’ future revenue.
MedAdvisor is a world-class medication management platform that empowers users to more simply manage their medication and improve adherence. Adheris is a US leader in tailored opt-out direct-to-patient medication adherence programs. MedAdvisor has been partnering with Adheris in digitising this process over the last 18 months.
Commenting on the acquisition, MedAdvisor CEO and Managing Director Robert Read said:
“This is a transformational deal for MedAdvisor which will bring digital to Adheris’ enormous scale and its ability to reach 1 in 2 Americans on an opt-out basis. The additional capabilities will not only accelerate our international growth but deliver key capabilities for the expansion of our key offerings in Australia and around the world.”
The McGrathNicol Advisory team including David Barnaby (Partner), Sam McCombe (Director), Nikki Jackson (Senior Manager) and Matt Russo (Manager), assisted MedAdvisor with financial due diligence, financial modelling, integration and acquisition accounting advice. McGrathNicol’s global alliance partner, Alvarez and Marsal, performed tax due diligence and structuring advice out of its New York office.