Two large Australian radiology groups, Integral Diagnostics and Capitol Health, have announced they are making progress with their proposed merger.
Under the plan first announced in June 2024, Capitol shareholders would receive 0.12849 Integral shares per Capitol share. Following the proposed merger, Integral shareholders would own approximately 63% of the combined group.
Integral, which owns 67 clinics, and Capitol agreed to work together to complete confirmatory due diligence and finalize and enter into a binding agreement to implement the merger during a four-week period of mutual exclusivity. The implementation deed is subject to conditions and regulatory approvals, including Capitol shareholder approval.
Capitol’s board of directors has confirmed that subject to completion of confirmatory due diligence and entry into the implementation deed, each director intends to recommend to Capitol shareholders to vote in favor of the merger.
