Danam Health And Artemis Strategic Investment Corporation Announce The Execution Of A Definitive Merger Agreement; Transaction Unanimously Approved At Expected Combined Pro Forma Enterprise Value Of $200M
$ARTE
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- Danam Health, Inc. ("Danam") is a health services technology and pharmaceutical distribution company pioneering an ecosystem model designed to empower various stakeholders in the prescription journey and patient medication compliance aspects of healthcare.
- Founded by a consortium of top-tier pharma executives dedicated to improving the last mile of medication and healthcare delivery, Danam aims to achieve commercial success by utilizing advanced integrative technology to overcome both cost- and geography-related patient access barriers.
- Danam leverages its proprietary technology to bridge the gap that exists among patients, practitioners, pharmacies, and pharmaceutical product accessibility by utilizing its custom adherence platform to drive value across the continuum of healthcare.
- The transaction with Artemis Strategic Investment Corporation, a publicly traded special purpose acquisition company (NASDAQ:ARTE), is expected to support Danam with access to capital markets and to accelerate development of its health ecosystem model designed to fill a critical gap in effective last patient delivery of health services including but not limited to prescription delivery, tele-pharmacy services, and effective product education at the patient and provider level.
- Danam intends to further develop its health ecosystem model to other aspects of patient care such as Remote Patient Monitoring (RPM) and expansion of care coordination among different healthcare providers.
- The pro forma equity value of the combined company is expected to be approximately $200 million and the proposed business combination is expected to be completed in the fourth quarter of 2023.