Covington Advises MultiplAI Health on $340M Merger with OmnigenicsAI and APx

Covington Advises MultiplAI Health on $340M Merger with OmnigenicsAI and APx

March 28, 2024

LONDON-Covington represented MultiplAI Health Ltd. in its combination with OmnigenicsAI Corp. and APx Acquisition Corp. I, a publicly traded special purpose acquisition company. OmnigenicsAI's shares are expected to be listed on Nasdaq under the ticker symbol "OMNI". Expected to close mid-year, the deal values OmnigenicsAI and MultiplAI at a combined enterprise value of approximately $340 million and will create a global AI-driven genomics company that provides secure, precise and reliable biological data.

Using RNA genomic sequencing, proprietary data transformation, and comprehensive AI analysis, MultiplAI Health is a UK-based preventive medicine company pioneering blood screening for cardiovascular and other complex diseases.

OmnigenicsAI, formerly Heritas, is a precision medicine company operating in Latin America dedicated to enhancing healthcare through proprietary genetic tests and services.

APx is a special purpose acquisition company formed by sponsor APx Capital for the purpose of effecting a business combination with one or more businesses or entities.