Pear Therapeutics exploring sale, other ‘strategic alternatives’ (MobiWell being Information):
Prescription digital therapeutics company Pear Therapeutics is exploring “strategic alternatives,” including a possible company sale, merger or acquisition.
In a press launch, the company mentioned it employed a financial advisor to look into actions that might “maximize sharemaintainer value.” That features a potential sale, M&A, divestiture of belongings, licensing or other strategic transactions. It might additionally search additional financing.
The company hit the public markets in late 2021 by way of a merger with a special purpose acquisition company, then a popular methodology of public exit for digital well being corporations … Within the third quarter, Pear reported $4.1 million in revenue and a $30.7 million web loss. The company additionally mentioned it had authorised extra layoffs, have an effect oning 59 make use ofees, or about 22% of Pear’s workpower on the finish of September. It had previously laid off 25 workers over the summer season.
Pear Therapeutics, Inc. (Nasdaq: PEAR) (“the Company”), the chief in developing and commercializing comfortableware-based medicines known as prescription digital therapeutics (PDTs), in the present day introduced that it’s engaged in a course of to discover strategic alternatives to maximize sharemaintainer value. The Company has engaged MTS Well being Halfners, L.P. to behave because the Firm’s exclusive financial advisor to help in evaluating potential alternatives. MTS Well being Halfners is a leading boutique make investmentsment financial institution that professionalvides strategic and financial recommendation to the well beingcare indusattempt … The Company doesn’t anticipate to disshut or professionalvide an replace concerning developments related to this course of except or till the Firm’s Board of Directors has authorised a definitive plan of action or othersensible determines that other disclocertain is necessary or acceptable.