Pluribus Technologies Corp. Announces Sale of TeleMED Diagnostic Management Inc. and TDM Telehealth Technology Ltd.
Pluribus Technologies Corp. Completes Sale of TeleMED and TDM Subsidiaries for $5,070,000
TORONTO, May 10, 2024 /PRNewswire/ – Pluribus Technologies Corp. (TSXV: PLRB) has successfully closed the sale of its subsidiaries, TeleMED Diagnostic Management Inc. and TDM Telehealth Technology Ltd., for a total purchase price of $5,070,000. The transaction, which was completed under an asset and share purchase agreement dated May 10, 2024, marks a significant milestone for Pluribus as it allows the company to refocus its resources on core business activities and strategic objectives.
Diane Pedreira, Chief Operating Officer of Pluribus Technologies and President and Chief Operating Officer of TeleMED, expressed her gratitude to the TeleMED team for their dedication and hard work, which contributed to a 2.5x increase in EBITDA over the past four years. The Purchase Price will be paid in cash, with $4,170,000 paid on the closing date of the Transaction, and the remaining amount to be paid in subsequent installments as per the terms of the Purchase Agreement.
The completion of this transaction is part of Pluribus’ strategic review process, aimed at enhancing the company’s growth and prosperity in the short and long terms. Canaccord Genuity Corp. acted as an advisor in connection with the Transaction, ensuring a smooth and successful sale process.
Pluribus Technologies Corp. is a technology company that focuses on acquiring and operating small, profitable business-to-business technology companies in various verticals and industries. The company provides its acquisitions with access to resources and opportunities to accelerate growth and maximize value.
Moving forward, Pluribus will continue its strategic review process with the goal of further maximizing shareholder value. The purchaser of the TeleMED business and TDM is committed to maintaining strong relationships with customers and employees over the long term, ensuring a smooth transition post-sale.
For more information about Pluribus Technologies Corp., visit their website at pluribustechnologies.com.
Contact:
Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383
SOURCE Pluribus Technologies Corp.
This engaging news story highlights the successful completion of the sale of Pluribus’ subsidiaries, showcasing the company’s strategic focus and commitment to maximizing shareholder value. The involvement of Canaccord Genuity Corp. as an advisor adds credibility to the transaction, while the commitment to preserving relationships with customers and employees demonstrates a customer-centric approach. Overall, the news story provides a comprehensive overview of the transaction and its implications for Pluribus Technologies Corp. and its stakeholders.