£203 million Recommended Cash Offer for Instem by ARCHIMED

Singer Capital Markets is pleased to have acted as Nominated Adviser, Financial Adviser and Broker* to Instem on its £203 million Recommended Cash Offer by ARCHIMED**.

The Acquisition Price represented a premium of approximately:

• 41 per cent. to the Closing Price of 590 pence per Instem Share on 29 August 2023 (the last business day prior to announcement of the offer);
• 35 per cent. to the Volume Weighted Average Price per Instem Share during the three month period ended 29 August 2023; and
• 34 per cent. to the Volume Weighted Average Price per Instem Share during the six month period ended 29 August 2023.

David Gare, Chair of Instem, commented:

“The Instem Board is pleased with the considerable progress made by the Company following the successful integration of acquisitions and the implementation of its strategy to achieve and maintain a growing portfolio of ‘world leading life science workflow and data solutions’.

The offer from ARCHIMED represents an attractive valuation and offers shareholders the certainty of cash today, while also fairly reflecting the exceptional quality of the Instem business, its people and its future prospects.”

About Instem plc

Instem provides advanced and best-in-class IT solutions to the global health and life sciences community which improves the productivity of their processes in the discovery and development of new drugs, therapies and products.

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About ARCHIMED

With offices in Europe, North America and Asia, ARCHIMED is a leading global investment firm that is exclusively focused on healthcare industries, with more than €8 billion of assets under management and past and current investments in 32 healthcare companies that serve customers around the world. Over the last twenty years, ARCHIMED’s leadership team has directly managed and invested in over eighty small to large size healthcare companies globally, representing over €30 billion of combined value.

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*Singer Capital Markets acted as Joint Financial Adviser and Joint Broker.

**The offer was made by Ichor Management Limited, a newly incorporated entity controlled by funds managed by ARCHIMED SAS.