MDaudit announced it will acquire all outstanding shares of Streamline Health Solutions, Inc. (STRM) for $5.34 per share in cash, representing a 138 percent premium to Streamline's May 28 closing price.
The all-cash transaction is valued at approximately $37.4 million, including debt.
The merger combines MDaudit's billing compliance and revenue integrity platform with Streamline's pre-bill solutions, eValuator and RevID, to deliver real-time, AI-driven visibility across the healthcare revenue cycle.
The companies stated that the integration aims to improve financial stability for health systems through unified data and actionable insights.
At the effective time of the merger, Streamline will become a wholly-owned subsidiary of MDaudit and its shares will be delisted from the Nasdaq.
The deal is expected to close in the third quarter 2025, subject to customary closing conditions and shareholder approval.
MDaudit has secured voting agreements from Streamline executives and affiliates holding approximately 22 percent of the company's outstanding shares.
The transaction is not subject to financing conditions and will be funded through MDaudit's cash reserves and existing credit facilities.
No unexpected conditions or regulatory hurdles are anticipated, both companies said.
Currently, STRM is trading at $5.0, up by 125.2 percent on the Nasdaq.
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