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Vulcan Two Group PLC ( (GB:VUL) ) has provided an update.
Vulcan Two Group plc has agreed to acquire three UK ePharmacy businesses, CloudRx Holdings, Hyperdrug Pharmaceuticals and Webmed Pharmacy, for up to £41.7 million, largely funded in cash. The deals will transform the AIM-listed cash shell into an operating group with an enlarged presence in digital prescriptions and online pharmacy services.
To finance the acquisitions and support future growth, the company plans to raise £40 million through an institutional placing at 200 pence per share, a 9.1% discount to its latest closing price. Management expects the enlarged group to generate more than £35 million in revenue with strong recurring income and underlying profitability, positioning Vulcan Two to lead consolidation in the UK’s regulated ePharmacy market.
More about Vulcan Two Group PLC
Vulcan Two Group plc is a UK-listed company focused on consolidating the regulated ePharmacy market, particularly the fast-growing private prescription segment. Led by executives with prior success in e-commerce healthcare, the group aims to build a leading digital pharmacy platform by acquiring and integrating high-quality online prescription and pharmacy businesses.
Average Trading Volume: 5,262
Technical Sentiment Signal: Strong Sell
For detailed information about VUL stock, go to TipRanks’ Stock Analysis page.