DAC Beachcroft Advises on Reverse Takeover of Premaitha Health
Published 9 July 2014
International law firm DAC Beachcroft has advised Panmure Gordon and Cairn Financial Partners on the £10.5 million reverse takeover of leading DNA analysis company, Premaitha Health, by global investment group, ViaLogy.
Under the terms of the deal, Premaitha was readmitted to AIM on 4 July and raised £7.2 million through a successful placing.
The company is expected to channel the funds into a global programme of sales and marketing investment for its portfolio of products, which includes prenatal tests for Down's syndrome and other conditions in unborn babies. ViaLogy chairman Adam Reynolds will lead the new company.
The DAC Beachcroft deal team was led in London by Clive Garston, with assistance from solicitor, Philip Walton.
Commenting on the deal, Clive Garston said: "We were delighted to act for both Panmure and Cairn on this landmark deal, which marks the dawn of an exciting new era of growth for Premaitha Health.
He added: "Our role on this deal, the latest in a string of advisory spots for the DAC Beachcroft London Corporate team, further underlines our reputation as one of the pre-eminent legal advisers on AIM work."