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Devonian to acquire privately held Altius Healthcare

Canadian pharmaceutical company Devonian Health Group Inc. will acquire privately held healthcare services provider Altius Healthcare

Devonian will acquire all issued and outstanding shares of Altius and will issue 8,403,361 units, with each unit consisting of a subordinate voting share and a share purchase warrant. The warrants will be exercisable at C$1.19 to acquire a subordinate voting share for a period of 36 months from the date of issuance.

After completion of the acquisition, Altius will maintain its existing operations as a new division of Devonian. Altius will continue to acquire in-license and distribute medicines for the Canadian market.

Sybil Dahan, president of Altius, will continue to serve in her position.

The acquisition is expected to close March 7.