Combined entity will aim to transform healthcare through technology driven solutions and services
HealthFore Technologies and Oscar Investments announced the approval of the scheme of amalgamation, whereby HealthFore Technologies (HealthFore) will merge with Oscar Investments (Oscar). Pursuant to this scheme, the combined entity will be renamed as HealthFore Technologies. As per the scheme of amalgamation, shareholders of HealthFore Technologies will receive three shares of Oscar Investments for every 20 shares held in HealthFore Technologies.
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 Board of Directors of HealthFore and Oscar have unanimously approved the scheme and will now seek requisite regulatory approvals including the shareholders’ approval. Reportedly, the amalgamation will be effective from April 1, 2015, being the Appointed Date under the scheme, subject to receiving the mandatory approvals.