Deal profile | Gadens advises Mach7 Technologies on ANREO to fund transformational acquisition of Client Outlook

Gadens has advised ASX listed Mach7 Technologies Limited (ASX: M7T) on its A$34.8 million institutional placement and accelerated non-renounceable entitlement offer to fund the CA$38.5 million (approx. A$40.8 million) acquisition of Canadian company Client Outlook Inc, a specialist enterprise viewing technology company.

The transaction is transformational as the acquisition completes Mach7’s enterprise imaging solution and allows the combined entity to provide a unique enterprise-wide solution to the healthcare imaging market.

Gadens has been working with Mach7 since 2015 and was delighted to work with the company on this transaction. Gadens advised on all legal aspects of the capital raise and the Australian aspects of the acquisition. The acquisition is due to complete in mid-July, subject to customary conditions.

Commenting on the transaction, Jol Rogers said: “Our team is pleased to have supported Mach7 on this transformational deal for the company. We have worked with Mach7 for a number of years and are excited about what the combination with Client Outlook means for its continued growth.“

Practise groups involved: Corporate Advisory.

Key team members: The transaction was led by partner Jol Rogers who worked with senior associate Steven Wambeek and associate William Zhang.

Matter significance: The acquisition of Client Outlook positions Mach7 to pursue growth in a larger addressable market. The transaction caps a busy period for the Corporate Advisory Team at Gadens, which has assisted a number of listed clients in recent months to raise funds for working capital and to pursue growth opportunities.