Experienced corporate advisory team x10 Partners continues to build a stable of successful enterprises, with the aspiring firm revealed as a driving force behind the rise of next-generation healthcare technology ImExHS (ASX:IME).
ImExHS listed on the Australian Securities Exchange via a reverse takeover in September 2018, with x10 Partners preparing the business for listing over a two-year period.
x10 Partners was involved not only with the listing process but also refining and fast tracking commercialisation plans in the lead up to the transaction.
ImExHS emerged from Colombia and has developed a unique cloud based platform for radiology imaging services that has now been deployed in five countries in Latin America.
Initially targeting a $4.5 million raise via the RTO, the healthcare tech reached this target plus an additional $1m in oversubscriptions, bringing the total to a maximum-allotted $5.5 million investment.
Commenting on the successful market re-entry, ImExHS chief executive Dr. German Arango said:
x10 Partners created an opportunity for ImExHS to accelerate both the scope and speed of our global expansion plans compared with other funding options.
“The x10 Partners team added real value to the ImExHS business, prepared us for the public capital markets and organised staged funding along the way. They always worked with our best interests in mind,” he said.
According to x10 the leadup to the listing involved a number of demanding steps, such as proving the technology to investors, developing a proven business model and demonstrating the product’s scalability in new markets.
Since listing, the investment in ImExHS has boosted the corporate advisor’s credentials.
ImExHS has used the proceeds of the listing to readily increase its platform across Latin America, with the technology deployed across 200 sites, including 71 hospitals and 5 countries.
Just this month the health-tech has signed a seven-year contract with an imaging services company, with a contract value of over A$6 million.