Online healthcare portal WebMD to acquire ASX-listed Limeade (updated)

Limeade

09/06/2023 24:25

(Adds details on deal in paras 2, 3, 5, background in para 4)
       June 9 (Reuters) - ASX-listed Limeade  LME.AX  said on
Friday it will be acquired by WebMD in an all-cash deal with an
enterprise value of A$112 million ($75.21 million).  
    Shareholders of the U.S.-based software-as-a-service firm
will receive A$0.425 per share from WebMD, a premium of 325% to
Limeade's last closing price. 
    After the acquisition is completed, Limeade will become a
wholly-owned subsidiary of WebMD, the company said. 
    Limeade had cut 15% of its workforce in January under its
restructuring plans and posted a 33% drop in its net profit
after tax to $13.3 million for fiscal 2023. 
    The software provider said the transaction is expected to
close in the third quarter of 2023.

($1 = 1.4892 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Nausheen.Thusoo@thomsonreuters.com;))