The Medserv Board of Directors have announced that the Company has entered into an agreement with Regis Holdings Limited to bring the two entities together through a share for share exchange.

Subject to all the required approvals, the new company shall be known as MedservRegis and will continue to be listed on the Malta Stock Exchange, Medserv says.

The transaction with Regis is expected to provide Medserv with market entry into critical growing markets and to strengthen Medserv’s equity base and liquidity position.

Regis provides logistics, equipment, procurement, and specialised services to a wide range of customers, Medserv comments.

The global reach of the new Group, MedservRegis, will span across four continents, present in twelve countries and operating from ten bases, the company explained.

This consolidation of two similar groups operating in two different geographical markets will strengthen the new Group’s market position and broaden its geographic footprint in strategic locations around the Mediterranean region, Middle East, Sub-Sahara Africa and South America.

Anthony Diacano, Chairman of Medserv plc commented: “The creation of MedservRegis is a strong response to the business environment which increasingly demands a new operating model of better collaboration across the supply chain to provide fully integrated solutions and increased value added.”

The transaction is still subject to completion, including all required regulatory and shareholder approvals which include approval by the shareholders of Medserv plc, delisting of Regis from the Mauritius Stock Exchange and the transfer out of the Regis Group of the non-core businesses.

Subject to the satisfaction of all conditions, completion of the transaction is expected to take place by the end of June 2021.