Viveon Health Acquisition signed a letter of intent for a business combination with Clearday.
The target provides a technology platform for the aging population that integrates healthcare innovations into personalized, AI-driven care experiences, which continuously assesses an individual’s cognitive and physical capabilities, according to a press release. The company’s customized treatment plans are intended to improve the quality of life for aging and special needs populations.
Under terms of the LOI, the proposed transaction values Clearday at $250 million. Viveon said it expects to announce additional details if and when a definitive merger agreement is executed.
Today’s announcement comes less than a month after Viveon Health disclosed it had “unilaterally terminated” a merger agreement with Suneva Medical, which develops regenerative aesthetics solutions.
As of last month Viveon reported $19.68 million in trust. Redemptions have whittled away agt the trust since the SPAC’s $201.25 million IPO in December 2020. Read more.
