The structure of this transaction is expected to be accretive, exclusive of financing costs, in the first full year of operations. Inlog’s management is planning to stay with the company.
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: “The acquisition of Inlog by Global Med is a transforming event in the history of our company. As a provider of blood and laboratory software applications in 20 countries (in the US, Canada, Caribbean, European Union, Africa, French Polynesia, and New Caledonia) we are now poised to grow our company in the global marketplace and react quickly to a rapidly changing international market.”