Patient Square Capital, LP completed the acquisition of SOC Telemed, Inc. from a group of shareholders.
The transaction is subject to the satisfaction or waiver of customary closing conditions, including the approval by SOC Telemed stockholders and receipt of Hart-Scott Rodino antitrust approval in the U.S. The Board of Directors of SOC Telemed, having determined that the transaction is in the best interests of the company's stockholders, has unanimously approved the transaction and recommends that company stockholders approve the transaction and adopt the merger agreement at the Special Meeting of Stockholders to be called in connection with the transaction. The deal was also unanimously approved by the Board of Patient Square Capital. A special strategic transaction committee was constituted by SOC Telemed to oversee the transaction. A special meeting of SOC Telemed shareholders to approve the transaction is to be held on April 4, 2022. The go-shop period associated with the transaction expired on March 4, 2022. As of April 4, 2022, the transaction was approved by the shareholders of SOC Telemed. The transaction is expected to close in the second quarter of 2022.
William Blair & Company, L.L.C. is acting as exclusive financial advisor and fairness opinion provider to SOC Telemed, Peter Lamb of Orrick, Herrington & Sutcliffe LLP is acting as legal counsel to SOC Telemed and DLA Piper LLP is acting as healthcare legal counsel to SOC Telemed. Ryan Brissette, Michael E. Weisser, David M. Klein, Mark Schwed, Steven Ort, Rohit Nafday, Jason Kanner and Sophia Hudson of Kirkland & Ellis LLP are acting as legal counsel to Patient Square Capital and Stuart Kurlander, Nicole Liffrig Molife, Eric Greig and Heather Deixler of Latham & Watkins LLP is acting as healthcare legal counsel to Patient Square Capital. SOC Telemed has retained Alliance Advisors to assist in soliciting proxies at a fee of $10,000, plus costs and expenses. Continental Stock Transfer & Trust Company is the transfer agent for SOC Telemed shares.
Patient Square Capital, LP completed the acquisition of SOC Telemed, Inc. (NasdaqGS:TLMD) from a group of shareholders on April 6, 2022.