NEW DELHI, Dec 14: Healthcare IT solutions and advisory services company HealthFore Technologies today said it will merge with Oscar Investments, pursuant to the approval of scheme of amalgamation between the two entities.
Pursuant to this scheme, the combined entity will be renamed as HealthFore Technologies Ltd, the capital-based firm said in a statement.
As per the scheme of amalgamation, shareholders of HealthFore Technologies Ltd will receive three shares of Oscar Investments for every 20 shares held in HealthFore Technologies Ltd, it added.
“The amalgamation will provide HealthFore, access to assets, a stronger capital base and talent pool generated by the merged business which can be deployed more efficiently to drive sustainable organic and inorganic growth, creating long term value for the shareholders and other stakeholders of the combined entity,” the company said.
The boards of HealthFore and Oscar have unanimously approved the scheme and will now seek requisite regulatory approvals including the shareholders’ approval.
The amalgamation will be effective from April 1, 2015, being the appointed date, under the scheme subject to receiving the mandatory approvals, the company said.
“The strong capital base resulting from the amalgamation will enable the company to invest in future technologies that will help develop innovative solutions and services to transform healthcare and provide superior value to its customers,” it added.
(PTI)
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