Science 37 to be acquired by eMed in $38m all-cash deal

Science 37 Holdings, Inc. (Nasdaq: SNCE), a leader in the clinical research industry, has announced a definitive merger agreement with eMed, LLC, a pioneer in on-demand virtual care and treatment. This all-cash deal, valued at approximately $38 million, marks a significant transition for Science 37.

Under the agreement, eMed will acquire all outstanding shares of Science 37 for $5.75 per share, a premium of about 21.3% over the company’s closing share price as of January 26th, 2024. Stockholders holding about 44% of the outstanding shares have agreed to tender their shares in support of the transaction.

David Coman, CEO of Science 37, emphasized the value this merger brings to stakeholders, enhancing patient access, speeding up trial enrollments, and providing financial stability.

The acquisition is subject to the tender of a majority of Science 37’s shares and other customary closing conditions. Post-transaction, Science 37 will become a privately held entity, and its shares will be delisted from public markets. The merger is expected to close in the first quarter of 2024.

William Blair & Company, L.L.C. and Thompson Hine LLP are advising Science 37, while Hogan Lovells US LLP is advising eMed on the legal aspects of the deal.

Science 37’s mission is to enable universal trial access for patients. Its Metasite model extends beyond traditional sites, allowing more diverse patient participation and high-quality data collection through a proprietary technology platform.

The acquisition of Science 37 by eMed demonstrates a strategic convergence of virtual healthcare and clinical research technology. This merger is expected to revolutionize patient access to clinical trials and enhance the efficiency of research studies, marking a significant milestone in healthcare technology.