IP Group plc (GB:IPO) has released an update.
IP Group plc has announced that its portfolio company, Intelligent Ultrasound Group plc, is selling its Clinical AI division to GE HealthCare for £40.5 million, a significant premium over its recent share price. The deal, which is contingent on shareholder and regulatory approval, is expected to close around September or October of this year. Intelligent Ultrasound will focus on its simulation business after the sale, and IP Group, along with its EIS fund management business, Parkwalk, plans a substantial capital return to shareholders.
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