ICB Biotechnology Investments (TASE: ICB) and Merchavia Holdings and Investments ltd. (TASE: MRHL) have both notified the Tel Aviv Stock Exchange that their portfolio digital health company RMDY has been sold to optimizeRX Corp. (Nasdaq: OPRX) for up to $46 million. ICB and Merchavia each have a 6% stake in RMDY. optimizeRX will pay $8 million cash, $8 million in shares and up to $30 million in future payments.
Merchavia said that it will earn between two times to seven times the amount it invested in RMDY. ICB said it will earn between two times and five times what it invested in RMDY.
RMDY has offices in Tel Aviv and New York and was founded by chairman and CEO Amir Kishon, the son of the late Israeli satirical writer Ephraim Kishon. The company, which has developed a digital therapeutics platform, operates in the US.
Advs. Peter Sugarman, Noah Zivan, Ben Sandler, Dr. Eran Lempert and Nir Kamhi of Yigal Arnon & Co. represented RMDY in this deal.
Published by Globes, Israel business news - en.globes.co.il - on September 9, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019