(Alliance News) - Farmacosmo Spa on Wednesday announced that it has finalized the acquisition of 51 percent of the share capital of Telepsicologia Srl, in which the contactU brand and related domain was conferred and Farmacosmo licensed to use, on a multi-year basis, under the Software as a Service model, the technology platform specializing in the provision of online psychology and psychotherapy services.

"The transaction is of great strategic importance as it sanctions Farmacosmo's entry into the Telepsychology sector and accelerates the process of evolution of the Company into an integrated ecosystem of high value-added services, dedicated to personal care and well-being," reads the company note.

Fabio de Concilio, former managing director of Farmacosmo, has been appointed CEO.

Completing the board will be Giada Fiume, who was given the role of chairman, and Marco Piccolo.

Farmacosmo closed Wednesday's session 2.3 percent in the red at EUR1.71 per share.

By Maurizio Carta, Alliance News reporter

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