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SINGAPORE - Mobile-health Network Solutions (NASDAQ: MNDR), currently trading at $1.32, has initiated a share repurchase program amid a significant 91% decline in share price over the past year. The program, effective immediately, authorizes the buyback of up to 214,000 Class A Ordinary Shares over the course of one year starting today. According to InvestingPro data, the stock has experienced substantial pressure, falling nearly 49% in the past six months alone.
Dr. Siaw Tung Yeng, Co-CEO of MNDR, stated that the share repurchase program is a strategic move, reflecting the Board’s belief that the current share price undervalues the company’s business and fundamental strength. The decision to buy back shares is seen as an attractive investment of capital given the present share prices. InvestingPro analysis shows the company maintains a healthy current ratio of 2.31 and holds more cash than debt on its balance sheet, supporting its ability to execute the buyback program.
The repurchase transactions may occur on the open market, in private agreements, or through block trades, and will comply with U.S. securities laws, including Rule 10b5-1 trading plans. The volume and timing of repurchases will be subject to market conditions, pricing, and regulatory requirements. While the program does not commit MNDR to a fixed number of shares to repurchase, it may be adjusted, paused, or discontinued at the company’s discretion.
MNDR has been recognized for its rapid growth, ranking #41 in the Financial Times 2024 list of 500 High-growth Asia-Pacific Companies. As the first telehealth provider from the region to be listed in the US, MNDR offers a range of telehealth services, including virtual consultations, prescription services, and personalized care programs. The company’s platform facilitates access to healthcare providers and supports a global network of peer support groups and partnerships.
This announcement comes amidst the increasing demand for telehealth solutions and the company’s focus on expanding its services internationally. Despite posting revenue growth of 77% in the last twelve months, InvestingPro analysis indicates the company faces near-term profitability challenges. Subscribers to InvestingPro can access 12 additional investment tips and comprehensive financial metrics to better evaluate MNDR’s growth trajectory and market position. The share repurchase program is based on a press release statement by Mobile-health Network Solutions.
In other recent news, Mobile-health Network Solutions (MNDR) has announced its intention to acquire Lifepack, an Indonesian pharmacy and telehealth platform. This acquisition is valued at up to $7.2 million, contingent upon Lifepack reaching its 2025 revenue target. The deal will be financed through the issuance of up to 875,000 new MNDR Class A Ordinary Shares at $8 per share, significantly higher than MNDR’s current share price. Additionally, a non-refundable cash payment of $0.2 million is included in the agreement. The acquisition aims to strengthen MNDR’s presence in Southeast Asia and expand its telehealth and pharmacy services across Indonesia. MNDR plans to leverage Lifepack’s local market knowledge to enhance healthcare delivery, particularly in remote areas. This strategic move is expected to create a transformative healthcare platform that aligns with Indonesia’s primary care needs. The completion of the acquisition is subject to due diligence and the execution of definitive agreements.
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