Inlog’s shareholders must use $500,000 of the cash proceeds to purchase Global Med common stock in the open market within three months of the closing. Global Med will utilize a combination of existing cash and debt to pay for the transaction.
Michael Ruxin, chairman and CEO of Global Med, said: “At the completion of this acquisition, we will truly be a global company, with blood and laboratory software applications in 20 countries (in the US, Canada, Caribbean, European Union, Africa, French Polynesia, and New Caledonia). The structure of this transaction is expected to be accretive, exclusive of financing costs, in the first full year of operations.”