US-based PathoCare Holdings has announced the receipt of a private third-party tender offer for the secondary purchase of shares from current shareholders, reflecting an implied company valuation of around $1.75bn.
This move continues PathoCare Holdings’ progression in capital market activities.
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The tender offer follows the company’s previous $150m venture investment, recapitalisation, acquisition, and a secondary tender offer at a $500m valuation.
The earlier $500m valuation was independently assigned by Lehrer Financial, a financial consulting firm based in Houston, Texas.
Following the latest tender offer, PathoCare Holdings appointed an independent third-party financial advisory firm to carry out a formal fairness opinion and updated valuation review.
The assessment will analyse the proposed transaction’s financial terms from the perspective of shareholders, utilising recognised valuation techniques, peer company comparisons, and relevant market information.
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By GlobalDataIn parallel, PathoCare Holdings has expanded the size of its planned private equity financing round from up to $25m to up to $50m, citing increased institutional interest and market demand.
The company expects to use proceeds from the proposed financing to accelerate product development, intellectual property (IP) expansion, regulatory readiness, engineering, and commercialisation for its flagship diagnostic platform, including the PathoWand point-of-care system.
PathoCare Holdings chairman Mychal Jefferson said: “The receipt of a significant third-party tendered offer at this valuation level reflects growing institutional confidence in the long-term potential of our diagnostic platform.
“Consistent with our prior transactions, the Board is proceeding with discipline and transparency by commissioning an independent fairness opinion before making any final determinations.”
Earlier this year, Hamershlag Private Capital Management (HPCM) made a venture investment in PathoCare, structured as an acquisition and recapitalisation valued at $150.15m.
