Induction Healthcare Group PLC, a leading healthcare technology company focused on helping healthcare professionals to streamline the delivery of patient care, today announces the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange.
- The Company will receive gross proceeds of approximately £14.6 million pursuant to the Placing. In addition, prior to the Placing, the Company completed a pre-IPO fundraise which raised approximately £2.0 million in gross proceeds for the Company.
- The Directors believe that the Placing and admission will enable the Company to accelerate its growth strategy, both through organic and acquisitive growth, with the majority of the funds raised for making acquisitions across a number of modules and geographies.
- Upon Admission, the Company will have a market capitalisation (at the Placing Price) of approximately £34.1 million.
- The total of 29,626,201 Ordinary Shares (including 12,681,915 Ordinary Shares issued pursuant to the recently announced Placing) have been admitted to trading on AIM under the ticker INHC.L, and ISIN number GB00BJ0M3545.
- The Company's Admission Document is available to view on its website www.inductionhealthcare.com.
Ibraheem (Ibs) Mahmood, CEO at Induction said:
"Today marks an important step in a new chapter as we embark on the next stage of Induction's growth strategy. We are pleased with the response of our new and existing shareholders and thank them for their confidence and support. We have made good progress since launch and already attracted over 76,200 healthcare professionals to our app which is helping them deliver patient care more efficiently.
"The additional funding will enable us to accelerate our growth plans by adding and acquiring new features and functionality to the service we provide and expanding into selective new geographies. We are optimistic and confident that we have the right strategy in place to deliver on the many growth opportunities we have identified and look forward to working with all our stakeholders and healthcare professionals to meet the anticipated demand."