Premier Health Group Inc. (PHGI:CSE; PHGRF:OTCQB; 6PH:FSE) closed its acquisition of Livecare Health Canada, it announced in a news release.
"Livecare has been a pioneer in telemedicine and their knowledge and relationships will be invaluable to our plans moving forward," Premier Health CEO Dr. Essam Hamza said in the release. "A key aspect of integration includes their workflow for video consults, specializing in real time assessments with devices like Bluetooth enabled stethoscopes and otoscopes for physical examination of patients remotely. Having tested the devices in my own practice, I was impressed with the quality of care I was able to provide from a distance, whether it was listening to a heartbeat or performing an ear exam."
The Canadian telehealth company was founded and operated by physicians. Since inception, Livecare serviced more than 500 independent health practitioner accounts, even in rural communities, remote work camps and First Nations communities, and provided more than 27,000 telemedicine visits.
As for the deal itself, for Livecare's outstanding common shares, Premier Health was to issue to Livecare shareholders an aggregate of up to 4.5 million Premier Health common shares at $0.40 per share. Premier Health also was to assume all of Livecare and its subsidiary's outstanding liabilities.
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