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Clover denies sales rumour

August 9, 2019

The company issued a statement denying any rumours made recently in a trade publication that a transfer of ownership is in the plan.

Clover Technologies Group issued the following statement providing a business update:

“Clover is operating in the ordinary course of business and its number one priority remains serving its customers. Clover is confident in the strength of its platform and market leadership position due to its healthy sales pipeline and continued efforts to identify key strategic investments that enable the Company to capitalize on long-term growth opportunities. With respect to its financial position, the Company has substantial liquidity, including a significant amount of cash on its balance sheet, which will allow Clover to continue to meet the needs of its business and customers.

“We also wish to address certain speculative reports disseminated in an industry trade publication. Contrary to a report regarding a transfer of ownership to a new strategic investor and provision of additional capital, Clover has not executed any such transaction at this time and cannot provide any assurances as to whether any such transaction will occur in the future.

“Clover, in close coordination with its advisors, is evaluating strategic options to address its existing capital structure.”

Editor’s opinion: Rumours abound about different potential scenarios, but we do know that a potential buyer for the Clover Imaging Group is waiting in the wings. If the deal happens it will have just broken as we mailed the magazine, or it is about to break. Or it didn’t happen!

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