Atlanta-based healthcareÂ and medical logistics contractorÂ DLH Holdings Corp. (NASDAQ: DLHC) has purchased health information technology and program management services provider DanyaÂ for $38.75 million cash-and-stock in a push to expand both business’ federal market footprints.
DLH said TuesdayÂ the deal value includesÂ $36.25 million in cashÂ from its existing balance, Â a term loanÂ and revolving line of credit with the remaining $2.5 millionÂ in stock.
Danya will operate as a subsidiary of DLH, which estimated theÂ combined company’s 2015 revenue at close to $100 million with backlog of nearly $300 million.
Founded in 1996, Silver Spring, Maryland-based Danya provides public healthÂ consulting and digital communications services to the Department of Health and Human Services and holds a prime contract with HHS to help monitor and evaluate grants for the Head Start program.
Danya’s customer base also includes the Centers for Disease Control and Prevention, U.S. Navy and Department of Homeland Security.
DLHÂ said it aims toÂ expandÂ telehealth research services to the Defense DepartmentÂ and civilian agenciesÂ plusÂ grow health IT and information systems workÂ in an effort to becomeÂ pure-play, technology-oriented healthcare and human services contractor for federal agencies.
The company holds contracts to support all seven of the VA’sÂ Consolidated Mail Outpatient Pharmacy locations that help deliverÂ prescriptions to former soldiers.
Tysons Corner, Virginia-based investment bank KippsDeSanto & Co. advised Danya on the transaction’s financial aspects while Vancouver, Canada-headquartered Canaccord Genuity acted in the same capacity for DLH.
As of 11:17 a.m. Eastern, shares in DLH rose 5.53 percent to $4.20 versus a 52-week high of $4.47.