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September 19th, 2022

ResApp Health Sold to Pfizer for $180 Million

ResApp Heath has been acquired by Pfizer at a fully diluted value of $180 million, or $0.208 per share. The company was acquired via a Scheme of Arrangement with an 82% approval based on total shares voted (75% required) and 62% of shareholders voting in favour (50% required). The Scheme was approved by the Supreme Court of NSW last week.

ResApp Diagnostics made a backdoor listing onto the ASX in 2015 through an acquisition by Narhex Life Sciences and being renamed ResApp Health. At the end of December last year the company had accumulated losses of $40.4 million with $3.4 million in cash.