Heska Corporation (NasdaqCM:HSKA) entered a definitive agreement to acquire MBio Diagnostics, Inc. for $39.8 million on September 9, 2022. The consideration includes a mix of cash and debt forgiveness, subject to working capital and other adjustments. The transaction is expected to close in the first half of 2023, subject to customary closing conditions. As per the filling on November 8, 2022, both companies board of directors approved the merger.

Heska Corporation (NasdaqCM:HSKA) completed the acquisition of MBio Diagnostics, Inc. on January 3, 2023. Heska Corporation paid approximately $39.8 million, of which $13.7 million was the reacquisition of the Company's previously held promissory notes. The purchase price was decreased for the settlement of preexisting relationships, including $2.5 million of payables due to LightDeck and a $0.2 million discount on the promissory notes, offset by a $0.8 million license fee. The agreement also included a general indemnity holdback of approximately $2.6 million. Heska Corporation also acquired $1.8 million of cash as part of this acquisition.