BeiGene (NASDAQ: BGNE) has announced that Delaware-based Pi Health Inc. is set to absorb and merge its wholly-owned subsidiary Pi Health Cayman at a mutually agreed valuation of USD 41.8 million. Following the merger, BeiGene will directly hold the corresponding equity in Pi Health. Concurrently, Pi Health plans to bring in external investors to bolster its ongoing operations in software development, analysis, and research solutions within the healthcare sector.
Upon completion of the transaction, Pi Health’s post-investment valuation is expected to reach USD 92.764 million. BeiGene will hold 42.4 million Class A preferred shares in Pi Health, translating to a 45.71% ownership stake, which is less than 50%. Prior to this transaction, Pi Health Cayman, established on March 9, 2021, was a wholly-owned subsidiary of BeiGene and provided front-end interoperability collection software (FICS) data analysis services to the company. Post-transaction, Pi Health will continue to offer these services to BeiGene at market-competitive rates.- Flcube.com