Brain health specialist Ixico to acquire Optimal Medicine

UK-based brain health company Ixico (AIM: IXI) has entered into an acquisition agreement to conditionally acquire Optimal Medicine.

The acquisition takes place for £0.49 per share ($0.75), a 53.1% premium to the closing mid-market price of £0.32 on November 17, which was the last day of dealing prior to the announcement. Ixico is also proposing to raise approximately £2.7 million before expenses in a conditional placing.

Derek Hill, chief executive of Ixico, said: “The acquisition of Optimal Medicine helps us to accelerate our overall strategy towards Ixico becoming a leader in digital healthcare for brain health. Like Ixico, Optimal Medicine specializes in brain health, in particular in ADHD and behavioral health, and therefore expands our expertise into new disease areas. Optimal Medicine is a personalized medicine company which develops web based digital healthcare products that aid clinical decision making to improve patient outcomes.  The addition of Optimal Medicine is in line with the company’s stated strategy to broaden Ixico’s product offering through acquisition and gives it a foothold in the US, the biggest digital healthcare market globally. Optimal Medicine, which has developed clinical decision support technologies for diagnosing and treating ADHD and behavioral health for US patients, will provide Ixico with a US infrastructure, commercial and IT healthcare expertise. Optimal Medicine has also built an extensive database that is used by clinicians in the US and complements Ixico’s existing data and technology in dementia and other neurodegenerative diseases.”