NEWTOWN, PA – Forian Inc. announced that it has completed the combination of Helix Technologies, Inc. (OTCQB:HLIX) and Medical Outcomes Research Analytics, LLC. The combination empowers Forian to provide a unique suite of SaaS solutions, data management capabilities and proprietary data and analytics to optimize and measure operational, clinical and financial performance for customers within the traditional and emerging life sciences, healthcare payor and provider segments as well as cannabis manufacturers, dispensaries, cultivators and regulators.
Forian expects to begin trading on The Nasdaq Stock Market LLC under the symbol “FORA” on March 3, 2021. Shares of Helix will no longer trade on the OTCQB beginning on March 3, 2021 insofar as each share of Helix was exchanged for 0.05 shares of Forian common stock in the merger. There are approximately 32 million shares of Forian common stock outstanding on a fully diluted basis.
Forian’s proprietary data and integrated data management expertise, coupled with its team’s deep background in SaaS-based platforms and commercial and clinical analytics, complement Helix’s industry-leading seed-to-sale compliance tracking and point of sale technologies for the quickly evolving and rapidly growing cannabis industry. The integration of Forian’s data management platform and assets further differentiate Helix’s BioTrack and Cannalytics solutions by infusing analytics into workflows to help customers make informed business decisions. Forian will improve current cannabis industry standards in data, analytics and reporting. Data from Helix’s technology offerings will power new analytics for Forian healthcare clients interested in real world evidence pertaining to the safety, efficacy, quality and health outcomes associated with cannabinoid-based products.
“I want to compliment Zachary Venegas, Scott Ogur and the entire Helix Technologies team for building a leading technology solutions provider to one of the largest client bases in the cannabis industry,” commented Dan Barton, Chief Executive Officer of Forian. “As the use of alternative therapeutics continues to grow at a rapid rate, Forian is uniquely positioned to support the healthcare and cannabis industries. The capabilities and expertise that we now have in our organization, together with our commitment to invest, will drive innovations to support our customers’ clinical, product development and marketing needs.”
“The addition of Helix meaningfully enhances the value proposition of the Forian platform, which is a critical data driven engine for driving growth across our business,” said Forian Executive Chairman Max Wygod.
Forian’s executive team will be led by Executive Chairman Max Wygod, Chief Executive Officer Dan Barton and Chief Strategy Officer Adam Dublin. Helix’s Chief Executive Officer Zachary Venegas and Helix’s Chief Financial Officer Scott Ogur will remain engaged in the business in advisory capacities. Leadership of the operations of Forian will be managed by employees from both the MOR Analytics and Helix teams.
Forian’s and MOR Analytics’ legal advisor is Duane Morris LLP, and Helix’s legal advisor is Nelson Mullins Riley & Scarborough LLP. ROTH Capital Partners, LLC and Donohoe Advisory Associates LLC advised on Nasdaq and other related matters.
The transfer agent for Forian and this transaction is Broadridge Corporate Issuer Solutions, Inc. Shareholders with any questions on this transaction should call Broadridge Customer Service at 877-830-4936. A copy of Forian’s SEC filings can be found at http://sec.gov/edgar.