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UPDATE 1-Online healthcare portal WebMD to acquire ASX-listed Limeade

Reuters
·1 min read

(Adds details on deal in paras 2, 3, 5, background in para 4)

June 9 (Reuters) - ASX-listed Limeade said on Friday it will be acquired by WebMD in an all-cash deal with an enterprise value of A$112 million ($75.21 million).

Shareholders of the U.S.-based software-as-a-service firm will receive A$0.425 per share from WebMD, a premium of 325% to Limeade's last closing price.

After the acquisition is completed, Limeade will become a wholly-owned subsidiary of WebMD, the company said.

Limeade had cut 15% of its workforce in January under its restructuring plans and posted a 33% drop in its net profit after tax to $13.3 million for fiscal 2023.

The software provider said the transaction is expected to close in the third quarter of 2023. ($1 = 1.4892 Australian dollars) (Reporting by Nausheen Thusoo in Bengaluru; Editing by Krishna Chandra Eluri)