Premier Health Group Inc. has completed its acquisition of the telehealth company Livecare Health Canada Inc.
Premier Health issued 4.5 million common shares at 40 Canadian cents apiece for a total value of C$1.8 million to Livecare's shareholders and will assume all of the outstanding liabilities of Livecare and its unit.
In case the total amount of assumed liabilities exceeds C$1.2 million, Premier Health will be entitled to cancel a number of the issued shares, at a deemed price of 40 cents apiece, equal to the excess amount of liabilities.
Premier Health is not obligated to assume more than $1.8 million in total liabilities of Livecare and its wholly owned subsidiary, according to a Jan. 13 news release.
British Columbia-based Premier Health is a health technology provider. Livecare connects patients with doctors through videos and messages.