Pear Therapeutics exploring sale, other ‘strategic alternatives’ (MobiWell being Information):
Prescription digital therapeutics company Pear Therapeutics is exploring “strategic alternatives,” including a possible company sale, merger or acquisition.
In a press launch, the company mentioned it employed a financial advisor to look into actions that would “maximize sharemaintainer value.” That features a potential sale, M&A, divestiture of property, licensing or other strategic transactions. It could additionally search additional financing.
The company hit the public markets in late 2021 by a merger with a special purpose acquisition company, then a popular technique of public exit for digital well being corporations … Within the third quarter, Pear reported $4.1 million in revenue and a $30.7 million internet loss. The company additionally mentioned it had permitted extra layoffs, have an effect oning 59 make use ofees, or about 22% of Pear’s workpower on the finish of September. It had previously laid off 25 workers over the summer season.
Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), the chief in developing and commercializing comfortableware-based medicines known as prescription digital therapeutics (PDTs), at this time introduced that it’s engaged in a course of to discover strategic alternatives to maximize sharemaintainer value. The Company has engaged MTS Well being Halfners, L.P. to behave because the Firm’s exclusive financial advisor to help in evaluating potential alternatives. MTS Well being Halfners is a leading boutique make investmentsment financial institution that professionalvides strategic and financial recommendation to the well beingcare indusstrive … The Company doesn’t count on to disshut or professionalvide an replace concerning developments related to this course of until or till the Firm’s Board of Directors has permitted a definitive plan of action or otherclever determines that other disclocertain is necessary or acceptable.