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NetScientific closes sale process after no offers come forward

NetScientific PLC has discontinued exploration of a sale after no offers were made during a strategic review period entered in November 2018.

The London-based venture capital firm, which specializes in healthcare technology and digital health, announced in November 2018 a strategic review and plans to consider a possible sale. The company said its portfolio was undervalued in the market, which suggested a sale of the whole company or certain assets might be warranted.

But after reviewing the options for a sale, the company said in a Jan. 15 regulatory filing that no offer had been made and no discussions had been initiated with any potential buyers. Therefore, NetScientific has closed the formal sale process and is no longer in an offer period.

The board will continue to consider other strategic options, such as seeking additional funding from existing shareholders or possibly delisting from the Alternative Investment Market of the London Stock Exchange to reduce costs.