ADDvise Group AB (publ) (OM:ADDV A) signed a letter of intent to acquire X-Ray Cassette Repair Company, Inc. for approximately $15 million on February 14, 2023. The purchase price for Reina Imaging amounts to a total of $14.75 million, divided into an initial payment of $10.75 million, and two potential earn-outs of maximum $4 million in total. To reach full earn-outs, Reina Imaging must reach an EBITDA of $2.11 million during the next twelve months after completion of the acquisition and an EBITDA of $2.33 million for the following twelve months. The acquisition will be financed with own funds. The acquisition is subject to a due diligence and that the parties agree to enter into a share purchase agreement. The share purchase agreement and completion of the acquisition is scheduled to be completed during Q2, 2023. As of June 15, 2023, the transaction is expected to close in during the third quarter 2023.

ADDvise Group AB (publ) (OM:ADDV A) cancelled the acquisition of X-Ray Cassette Repair Company, Inc. on October 1, 2023.