Deal includes $1.5 million cash and $23.5 million in stock warrants for smart medication dispenser technology.
Custom Health Holdings Inc (TSX:CHLT) will acquire Spencer Health Solutions Inc, a maker of smart medication dispensers and in-home monitoring platforms, for up to $25 million. The transaction aims to integrate Spencer’s technology into Custom Health’s medication management model, enhancing real-time patient data tracking and AI-driven clinical workflows.
The deal consists of $1.5 million in cash and approximately $23.5 million in pre-funded warrants, subject to working capital adjustments. Custom Health already uses Spencer’s devices in its Remote Patient Monitoring and Remote Therapeutic Monitoring programs, which leverage pharmacist-led care teams to address medication adherence issues.
Spencer’s platform provides continuous visibility into medication use at home, feeding data into Custom Health’s AdhereNet system. The acquisition allows Custom Health to control Spencer’s product roadmap and engineering, aligning with its strategy to expand technology-enabled, home-based care infrastructure.