IGambit Inc. entered into a letter of intent to acquire Winpoint Health LLC, a New York-based chronic care management service company.
The New York-based medical technology company said the acquisition will offer strategic synergies with its subsidiary HealthDatix Inc. and provide an opportunity for physicians to identify patients eligible for annual wellness visits as well as chronic care management, both of which are reimbursed by Medicare.
HealthDatix identifies patient's eligibility for Medicare-reimbursed doctor visits.
Under the agreement, iGambit will acquire all outstanding shares of Winpoint and assume all of its business operations, making Winpoint its subsidiary. The company will also make a $2 million equity investment in Winpoint.
Winpoint shareholders and the equity investors will receive iGambit common shares equal to 65% of the issued and outstanding shares post-transaction.
IGambit expects the deal to close within 60 to 90 days from the signing of the letter of intent and commencement of due diligence.