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Craneware proposes placing to fund Sentry acquisition

Mon, 7th Jun 2021 18:08

(Alliance News) - Craneware PLC on Monday said it has entered into a conditional agreement to acquire US-based Sentry Data Systems, Inc for USD400 million.

Deerfield Beach, Florida-based Sentry is a provider of SaaS solutions which simplify the complexity of pharmacy procurement. It also provides business intelligence and consulting services.

Craneware delivers value cycle via its cloud-based Trisus platform, which collects, analyses, compares, verifies and corrects data so US hospitals can improve their financial and operational performance as well as patient outcomes.

In order to help fund the acquisition, Craneware is proposing a share placing to institutional investors to raise around GBP140 million. The placing price will be determined at the end of the bookbuild.

Goldman Sachs International, Peel Hunt LLP, Investec Bank plc, Investec Europe Ltd and Joh. Berenberg, Gossler & Co KG are acting as joint bookrunners.

The stock closed flat at 2,450.00 pence on Monday.

By Arvind Bhunjun;

Copyright 2021 Alliance News Limited. All Rights Reserved.

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