E-health-based organisation PatientSky Group AS with the help of its subsidiary company (PatientSky AS) is all set to step into the agreement of share purchase with EG Norge AS.
EG Norge AS is a completely owned subsidiary company of EG, Denmark which is ready to sell all its shares in its subsidiaries i.e., PatientSky SaaS Norway AS (“PatientSky SaaS”) and PatientSky App AS (“PatientSky App”).
Transaction highlights
- PatientSky Group will be receiving between NOK 850Mn-NOK 900Mn.
- It will be selling most of its assets and business, which would include the PatientSky App as well as the PatientSky SaaS-based EHR software.
- PatientSky Group will be using portions of the proceeds to call as well as repay the loan amount with NOK 225Mn principal amount.
- After loan repayment and transaction completion, PatientSky Group is estimated to have somewhere between NOK 650Mn-NOK 700Mn in cash approximately.
- The transaction would be completed only when it will be approved by the NCA (Norwegian Competition Authority).
- The anticipated time for the transaction to be completed is by Q2-2023.
- After the sale is made completely, PatientSky Group to be listed on ‘Euronext the Growth’.
Business operations that support the healthcare sector including operations of Infodoc, PatientSky App, Hove Medical Systems, and PatientSky SaaS Norway are to be sold. It would include businesses of physiotherapists, general practitioners, and specialist doctors.