Inc () has completed its combination with Medical Outcomes Research Analytics LLC (MOR Analytics), merging to become a new information and technology provider for the healthcare and cannabis sectors, Forian Inc (NASDAQ:FORA).
The combined entity will be able to provide a unique suite of Software-as-a-Solution (SaaS), data management capabilities and proprietary analytics to optimize operational, clinical and financial performance for its customers in the life sciences, healthcare payor and provider segments, as well as cannabis manufacturers, dispensaries cultivators and regulators, the company said.
Forian expects to begin trading on the Nasdaq under the symbol FORA on Wednesday. Each share of Helix was exchanged for 0.05 shares of Forian (20:1), the company said, leaving roughly 32 million shares of Forian outstanding.
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Forian's proprietary data and integrated data management expertise and deep background in SaaS-based platforms complements Helix's seed-to-sale compliance tracking and point-of-sale technologies for the cannabis industry, the company said.
Further, Forian says it can improve current cannabis industry standards in data, analytics and reporting, while data from Helix's technology offerings is expected to power new analytics for Forian healthcare clients interested in real-world evidence pertaining to the safety, efficacy, quality and health outcomes associated with cannabinoid-based products.
"The addition of Helix meaningfully enhances the value proposition of the Forian platform, which is a critical data-driven engine for driving growth across our business," Forian executive chairman Max Wygod said in a statement.
Helix CEO Zachary Venegas and CFO Scott Ogur will remain with Forian in an advisory capacity, the company said.
"I want to compliment Zachary Venegas, Scott Ogur and the entire team for building a leading technology solutions provider to one of the largest client bases in the cannabis industry," added Forian CEO Dan Barton.
"As the use of alternative therapeutics continues to grow at a rapid rate, Forian is uniquely positioned to support the healthcare and cannabis industries. The capabilities and expertise that we now have in our organization, together with our commitment to invest, will drive innovations to support our customers' clinical, product development and marketing needs."
Forian will maintain headquarters in Newtown, Pennsylvania and have offices in Fort Lauderdale and Denver.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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