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SINGAPORE - Mobile-health Network Solutions (NASDAQ: MNDR), a MedTech company demonstrating strong revenue growth of 77% in the last twelve months and recognized for its rapid growth in the Asia-Pacific region, announced today its intent to acquire Lifepack, an Indonesian pharmacy and telehealth platform. According to InvestingPro data, MNDR maintains a healthy balance sheet with more cash than debt and a current ratio of 2.31x. This strategic move is aimed at bolstering MNDR’s presence in Southeast Asia and expanding its telehealth and pharmacy services to meet the needs of Indonesia’s population of over 280 million.
Lifepack, which operates both online and offline, provides BPOM-licensed prescription drugs, over-the-counter medications, supplements, and medical equipment. The acquisition will enable MNDR to leverage Lifepack’s local market knowledge and infrastructure to enhance healthcare delivery, especially in remote areas of Indonesia.
Dr. Siaw Tung Yeng, Co-CEO of MNDR, stated that the partnership is expected to create a transformative healthcare platform that aligns with Indonesia’s primary care needs, including teleconsultations, prescription fulfillment, and chronic disease management.
The deal terms include MNDR’s acquisition of Lifepack for up to $7.2 million, contingent on Lifepack achieving its 2025 revenue target. The consideration will be satisfied through the issuance of up to 875,000 new MNDR Class A Ordinary Shares at an issue price of $8 per share, representing a significant premium over MNDR’s current share price of approximately $1.42. Additionally, a non-refundable cash payment of $0.2 million is part of the agreement. InvestingPro analysis suggests MNDR is currently trading near its Fair Value, with the stock experiencing significant volatility over the past year.
MNDR’s share issuance at a substantial premium underscores the value they see in the acquisition and its potential to impact healthcare delivery across Indonesia’s archipelago. The completion of this acquisition is subject to due diligence and the execution of definitive agreements.
Ranked #41 in the Financial Times 2024 listing of 500 High-growth Asia-Pacific Companies, MNDR is the first Asia-Pacific telehealth provider to be listed in the US. The company offers a range of telehealth solutions, including teleconsultation services and prescription fulfillment. While the company shows promising growth, InvestingPro identifies several key factors affecting its performance, including rapid cash burn and expectations of continued losses in the current fiscal year. InvestingPro subscribers have access to 12 additional investment tips for MNDR and comprehensive financial analysis tools.
The information presented in this article is based on a press release statement from Mobile-health Network Solutions.
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