New York, NY, November 21, 2023 — T-Medical Group Inc., a leading provider of medical technology solutions, today announced that it has signed a letter of intent to acquire Telaleaf Health Inc., a privately held Canadian company that develops and markets innovative software solutions for the healthcare industry and owns a wholly owned subsidiary Telaleaf Health GmbH, a German telemedicine company, that specializes in the fast-growing European Cannabis market.
Under the terms of the agreement, T-Medical Group will purchase all the outstanding shares of Telaleaf for a purchase price of forty-five million (45,000,000) common shares of T-Medical. The transaction is expected to close within 60 days, subject to customary closing conditions and regulatory approvals.
“The acquisition of Telaleaf is a significant step forward in our strategy to expand our multinational portfolio of healthcare software solutions,” said Dominick Bianco, Director of T-Medical Group. “Telaleaf products are highly complementary to our own, and we believe that the combination of our two companies will create a leading provider of healthcare software solutions that will help our customers improve the quality and efficiency of healthcare delivery.”
Gavin Treanor, CEO of Telaleaf, added, “We are excited to join forces with T-Medical Group Inc., a leading provider of medical technology solutions. We believe that our combined expertise and resources will allow us to accelerate the development and commercialization of our innovative software solutions, and to better serve our customers.”
The acquisition of Telaleaf is T-Medical’s Groups second acquisition in the past 90-days. In October 2023, T-Medical acquired 365Televet.com, a provider of cloud-based Tele Veterinarian software solutions.