The clinical nutrition and diagnostics company Guardion Health Sciences Inc (NASDAQ:GHSI) was in considerable focus among investors yesterday and soared by as much as 12%.
The rally in the Guardion stock came about after the company made an announcement regarding the very first acquisition under its new Chief Executive Officer. It emerged that Guardion signed an equity purchase agreement which will see it complete the acquisition of Activ Nutritional LLC.
The transaction was been completed for a cash consideration of $26 million, however, some adjustments might still be made. In this regard, it is also necessary to point out that this acquisition is part of the growth strategy devised by the Guardion CEO and is aimed at making the company more competitive in the clinical nutrition space. It seems that the market is optimistic about the possibilities of this deal if the rally in the stock is anything to go by.