PMGC Holdings (ELAB) said Wednesday it has signed a non-binding letter of intent to buy an unnamed US-based information technology custom packaging firm.

The target company has "close to 15 years of uninterrupted operations" and consistently delivered positive earnings before interest, taxes, depreciation, and amortisation performance year over year, PMGC said.

PMGC said it expects to sign a definitive agreement and close the deal before the end of Q2, subject to customary conditions.

The deal marks the launch of PMGC's previously announced acquisition strategy, the company said, adding this is the "first of several accretive acquisitions shareholders can expect in the months ahead."

Price: 2.51, Change: -0.40, Percent Change: -13.78