IMEXHS has successfully fulfilled the $8.3 million raise of gross proceeds required as commitments from institutional and key-player investors.

Managed by Morgans Corporate Limited, the placement received strong demand from new and existing shareholders with 276m new ordinary shares issued at 3.0 cents per share. The net proceeds raised will be used to strengthen IMEXHS’s balance sheet and fund future growth as the Company expands into new markets in the USA, Brazil, and Australia.

IMEXHS Founder and CEO, Dr. German Arango, commented: “We are very excited about the growth prospects for the Company, especially around our expansion into the USA, Brazil, and Australia. This funding allows us to accelerate our penetration into these regions with our leading SaaS products, including our disruptive Aquila in the Cloud product offering.

“We will also accelerate our investment in product development across a number of critical areas. This includes increasing our AI functionality through the provision of image algorithms, tools, and integrations from third parties and developing the Alula Market Place which is a pathology marketplace workflow platform that provides genetic diagnostics, logistic management and second opinion process. We will also continue to expand into other verticals, including gastrology and other platforms for specialists where IMEXHS has an important first mover advantage”.

The placement proceeds, along with the revenue created from the businesses, will allow the Company to reach EBITDA breakeven by the end of CY21.

Commenting on the placement, Mr. Doug Flynn, IMEXHS Chairman, said: “We are delighted with the strong support we have received from our existing shareholders and welcome our new investors to the register. The success of the placement is a strong endorsement of our investment program and growth opportunities for the business.”