A newly announced merger between a pharma mainstay and a leading software company touting a patented CDI platform promises to blend the best of both worlds into a unified, innovative company that will set the precedent for diagnosis and documentation in the healthcare industry. Retrieve Medical, Inc., the entity behind the aforementioned Retrieve Dx CDI platform helping clinicians assess patients’ clinical histories to improve diagnostic accuracy which has earned validation from and is available via both Epic and Cerner, will absorb Peak Pharmaceuticals to create what is to be called Retrieve Medical Holdings.
The reverse triangular merger transaction, dated the 27th of last month, called for all outstanding capital stock of Retrieve in exchange for issuing Retrieve shareholders an aggregate of over 16 million shares of the company’s common stock, making them the majority shareholders. In terms of leadership, Peak’s Neil Reithinger has stepped down from his triple role as Chief Executive Officer, Chief Financial Officer, and Director after approving the deal, making way for Retrieve Chief Executive Officer Jerry Swon to retain his title and take the reins of the combined company. In the process, Peak has shed its status as a shell company.
"Today's merger and public listing positions Retrieve Medical for success in the months and years to come," said Swon as part of the merger announcement. "After years of product development, a successful proof of concept program with a prominent hospital in New York, and validation by the 2 largest EMRs in the world, Retrieve is now ready to expand its patented software offering to hospitals and other healthcare providers across the United States.”