Recently both Helix Technologies, Inc. and Medical Outcomes Research Analytics, LLC entered into an agreement to create the most innovative healthcare information, analytics, and technology organization, named Forian Inc. The newly formed company will fully own both companies as subsidiaries.
MOR analytics will own 72% and Helix will own 28% of the shares of combined Forian Inc. after the completion of the all-stock transaction. Helix shareholders will receive 0.027 shares of common stock of Forian Inc. for each common stock of Helix.
The shares of Forian Inc. are expected to be treated as a tax-free exchange for federal income tax purposes which will be distributed to MOR Analytics and Helix Technologies upon merger. In addition, Forian Inc. is expected to have $10 million in cash available and will not sustain any debt to impact the merger.
WebMD alumni Adam Dublin and Max Wygod founded MOR Analytics and Visionary healthcare entrepreneur Marty Wygod supported the initial funding. Marty Wygod addressed the needs of patients, physicians, and life science companies by supporting public healthcare firms like Medco, Emdeon, WebMD, etc. with data and technology, minimizing the cost of healthcare across the globe for millions of people.
Helix is one of the leading global software providers for the cannabis industry. Helix prioritizes value-added solutions, outstanding execution, and innovation for each opportunity. With the merger, our commitment strengthens with MOR Analytics and take it to next level. The merger will create a new and critical dimension to enhance the commercial success of customer’s usage of BioTrack and Cannalytics technology suites.
This merger will create the largest proprietary, integrated, HIPAA-compliant U.S. cannabis Real World Evidence and commercial analytics platform with the following features:
- Empower physicians, caregivers, stakeholders of cannabis, and patients with access to observational research and improve health outcomes with credible evidence.
- SaaS-based platform to provide a multitude of verticals like government, life science, cannabis dispensaries, and others with the information and intelligence to better comprehend rapidly changing marketplace dynamics, customers, and products.
- Most advanced data management, analytics products, and Software to enhance the business performance of Helix’s enormous and growing customer base.
- Accredit regulators to finely access social, economic, health, and safety results with all therapeutic options and adoption of cannabinoid-based therapies as an alternative to mainstream therapeutics.
Main headquarter will be set-up in Newtown, PA with Dan Barton, CEO of MOR Analytics as CEO of Forian Inc. board of directors of Forian Inc. will consist of 11 directors Marty Wygod, Adam Dublin, Max Wygod, Dan Barton of MOR Analytics, six new independent directors and Scott Ogur of Helix.