Yourgene Health Plc (AIM:YGEN) entered into an acquisition agreement to acquire Delta Diagnostics (UK) Limited from management, Percipient Capital and others for £9.1 million on April 17, 2019. Pursuant to the terms, Yourgene Health plc will carry out the acquisition on net of cash basis for an enterprise value of £8.8 million. The consideration will be satisfied by the payment of £6.3 million in cash (the "Cash Consideration") and the issue of 24.6 million new ordinary shares in Yourgene Health plc. Executive management team of Delta Diagnostics (UK) Limited have agreed to roll approximately 60% of their shareholdings (representing approximately 20% of total issued share capital of Delta Diagnostics (UK) Limited) into new ordinary shares in Yourgene Health Plc. The consideration shares to be issued to such members of the Delta Diagnostics (UK) Limited's executive management team will be subject to lock-up restrictions for a period of 12 months (including, in the case of Bill Chang and Lyn Rees, their respective subscription shares). Delta Diagnostics (UK) Limited's surplus cash at completion of the acquisition will be paid to the sellers, but that payment will be funded by Delta Diagnostics (UK) Limited 's balance sheet, not Yourgene Health plc or the fundraising. In order to fund the acquisition, Yourgene Health plc is seeking to raise through the fundraise, a minimum of £10 million (before expenses), through the issue of 97.6 million new ordinary shares. The Directors of Yourgene Health Plc have the flexibility to increase the size of the fundraise to up to approximately £11.8 million. For the year ended December 31, 2018, Delta Diagnostics (UK) Limited generated revenues of £3.6 million and adjusted EBITDA of £1 million. Profit before tax amounted to £0.2 million , whereas total assets were £2.7 million. Completion of the acquisition is conditional, amongst other things, on admission of the fundraise shares to trading on AIM becoming effective. The acquisition is expected to be immediately accretive financially to earnings of the Enlarged Group. Liam Murray, James Caithie and Ludovico Lazzaretti of Cairn Financial Advisers LLP acted as nominated advisors to Yourgene Health Plc. Yourgene Health Plc (AIM:YGEN) completed the acquisition of Delta Diagnostics (UK) Limited from management, Percipient Capital and others on April 25, 2019.