Kelowna's Custom Health enters into agreement with New York investment firm

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An Okanagan health-care company that specializes in medication technology is on the path to going public after getting into business with a New York investment firm.

Kelowna-based Custom Health has entered into a definitive business combination agreement with Berenson Acquisition Corp. I, a special purpose acquisition corporation focused on identifying leading technology-enabled services or software companies.

The transaction gave Custom Health a $185 million equity value and will help the business improve its mission to supply technology-enabled medication management.

Once the transaction is completed, Custom Health will combine with Berenson and become a publicly listed entity trading on the New York Stock Exchange under its existing name.

“We are very excited to work closely with the (Berenson) team to enable us to better transform the care experience for people at home,” Custom Health CEO Shane Bishop said in a press release. “We believe that their deep mergers and acquisitions expertise, coupled with our shared commitment to impact patient lives, will accelerate our path to market.

“Guessing with medication must stop. We have the expertise, technology and comprehensive data to help people who take medication achieve the best possible health outcome.”

Custom Health focuses on serving multi-medication patients with chronic conditions, representing approximately 78 million people in North America.