Respiri (ASX:RSH) completed the acquisition of the business and assets of Texas-based healthcare service provider Orb Health, according to a Tuesday Australian bourse filing.
It said the initial purchase price of $9 million was satisfied via the issuance of about 161 million ordinary shares.
Orb Health also agreed to invest $700,000 by subscribing for additional shares as part of the deal. Respiri will issue the first tranche of 7.2 million additional shares contemporaneously with the initial consideration shares.
The second tranche of 5.4 million additional shares is expected to be completed within the next 45 days, the filing added.
Orb Health will also be entitled an additional payment via the issuance of ordinary shares, if it meets certain financial targets in 2025.
Respiri's executive chairman Nicholas Smedley will transition to the role of nonexecutive chairman, as part of its restructuring, the filing said.
Its shares rose almost 3% in recent trading on Tuesday.
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