Business
The company's technology looks to reduce the burden on pathologists reviewing digital slides, while also serving as a safety net to reduce errors.
The deal is expected to close in the second quarter of 2021. It will value the combined company at approximately $1.1 billion.
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According to Business Insider, the pair made a $70 million licensing deal.
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Investment firm Kuwait Life Sciences Company's Dr. Mussaad M. Al-Razouki gives a breakdown of recently filed or finalized digital health SPACs, as well as a list of unicorns ripe for a potential merger.
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The Israeli startup raised the first $50 million in April 2020 in a round led by Insight Partners, which led this extension as well.
Hillrom says that lower-than-expected reimbursement rates proposed in late January void the deal. But the cardiac-monitoring device maker asserts they were accounted for during negotiations.
This brings the company's total valuation to $1.7 billion.