Helix Technologies, Inc. and Medical Outcomes Research Analytics, LLC announced they have entered into an agreement to combine, creating an innovative healthcare information, analytics and technology organization. The combination will be accomplished by both companies becoming wholly owned subsidiaries of a newly formed company, Forian Inc. Upon completion of the all-stock transaction, MOR Analytics members will own approximately 72 percent and Helix shareholders will own approximately 28 percent of the combined company on a fully diluted basis. Helix shareholders will receive .027 shares of Forian common stock for each share of Helix common stock. The Forian shares received by the Helix shareholders and MOR Analytics members in the merger are expected to be treated as a tax-free exchange for federal income tax purposes. Additionally, at the time of the combination, it is expected that Forian will have in excess of $10 million in cash available. Forian will not incur any new debt to affect the combination.
“We are thrilled to add Helix’s unique technology and information assets to our innovative de-identified patient health data and analytics platform. We have created the nation’s only HIPAA compliant, Real World Evidence platform integrating cannabis and de-identified healthcare data designed to support SaaS based business performance analytics, product safety and efficacy surveillance solutions, and evidence-based health outcomes research. Our U.S.-based healthcare and cannabis clients can leverage data-driven insights to achieve improved patient health outcomes and business performance. We are excited to welcome the Helix platform and recognize the top-tier results produced by Zachary and his team over the last several years,” said MOR Analytics Chief Executive Officer, Dan Barton.
“As Helix has grown into one of the leading global providers of software used in the cannabis industry, we have prioritized value-added solutions, innovation and outstanding execution at every opportunity. With today’s important announcement, this commitment is being taken to the next level. Joining with MOR adds a completely new and critical dimension to Helix’s capabilities that will further advance the commercial success of customers using our BioTrack and Cannalytics technology suites,” said Helix’s CEO Zachary Venegas.
MOR Analytics was founded by WebMD alumni Adam Dublin and Max Wygod, and its early financings were led by visionary healthcare entrepreneur Marty Wygod. Over the last four decades, Marty Wygod has delivered some of the most innovative and successful publicly-traded healthcare companies (Medco, Emdeon, and WebMD, among others) addressing the needs of patients, physicians, and life science companies while utilizing technology and data to reduce the cost of healthcare for millions across the globe.
About Helix Technologies, Inc.
Helix’s industry-leading compliance and point of sale technologies are tailored to the unique needs of the quickly evolving cannabis industry, offering customers seamless compliance management solutions and earning government contracts in this rapidly growing market. The BioTrack cutting-edge platform is designed to scale alongside the cannabis industry. The Helix’s leadership team has deep experience in entrepreneurship, mergers and acquisitions, technology and security. With headquarters in Denver, Colorado and teams based in Florida, Washington, Hawaii, Nevada, and Argentina, Helix is committed to providing highly sophisticated and secure operating environments.