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Mach7 Technologies advised on multimillion-dollar deal
Gadens has advised ASX-listed Mach7 Technologies Limited on its $34.8 million institutional placement and accelerated non-renounceable entitlement offer.
Emma Musgrave
Firms: Gadens (Mach7 Technologies Limited)
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Deal: Mach7’s institutional placement and accelerated non-renounceable entitlement offer is set to fund the acquisition of Canadian company Client Outlook Inc, a specialist enterprise viewing technology company.
Value: $34.8 million
Area: Corporate advisory
Key players: The transaction was led by Gadens partner Jol Rogers, who worked with senior associate Steven Wambeek and associate William Zhang.
Deal significance: “The transaction is transformational as the acquisition completes Mach7’s enterprise imaging solution and allows the combined entity to provide a unique enterprise-wide solution to the healthcare imaging market,” a statement from Gadens explained.
“Gadens has been working with Mach7 since 2015 and was delighted to work with the company on this transaction. Gadens advised on all legal aspects of the capital raise and the Australian aspects of the acquisition. The acquisition is due to complete in mid-July, subject to customary conditions.”
Commenting on the transaction, Mr Rogers said: “Our team is pleased to have supported Mach7 on this transformational deal for the company. We have worked with Mach7 for a number of years and are excited about what the combination with Client Outlook means for its continued growth.”
