Venture Life Group plc (AIM:VLG) acquired BBI Healthcare Limited (BBIH) from BBI Diagnostics Group Limited for £36 million on June 7, 2021. The total consideration payable is up to £36 million made up of £35 million in cash on completion (being £25.4 million in respect of the BBIH shares and the balance by way of payment of amounts due to BBI Diagnostics Group Limited), and deferred consideration of a further £1 million, payable to BBI Diagnostics Group Limited on receipt of FDA approval for the new Women's Health product for the US market. The consideration will be funded from VLG's existing cash resources and £34.1 million raised in November in a share placing. VLG expects to have a revolving credit facility in place shortly after completion of the transaction. BBI Healthcare Managing Director Claus Egstrand will be leaving BBI Healthcare following completion of the transaction. BBI Healthcare Chairman Jean Forcione will remain a Director of BBI Group. For the year ended December 31, 2020, BBIH generated adjusted EBITDA of £2.6 million (reported EBITDA £2.3 million) on revenues of £10.2 million. Net assets at December 31, 2020 were £2.4 million. The acquisition will initially utilize the cash raised in December 2020 and afterwards intends to put in place a revolving credit facility to repatriate some of the cash back onto balance sheet. The acquisition of BBIH is expected to be immediately earnings enhancing. The acquisition would represent a high single digit EV/EBITDA multiple for FY21 and we expect further revenue growth in 2022 and beyond. Michael Johnson, Russell Kerr, Stephen Keys and Camilla Hume of Cenkos Securities plc (AIM:CNKS) acted as financial advisors to Venture Life Group plc. J.P. Morgan Limited acted as financial advisor and Allen & Overy LLP acted as legal advisor to Exponent. Martyn Gregory, Geraint McGrath, David Jones, Amar Shah and Yaowen Yang of Deloitte & Touche Corporate Finance UK Limited acted as financial advisors to Exponent and BBI Healthcare. PricewaterhouseCoopers International Limited acted as due diligence provider to BBI Diagnostics Group Limited. Venture Life Group plc (AIM:VLG) completed the acquisition of BBI Healthcare Limited (BBIH) from BBI Diagnostics Group Limited on June 7, 2021.