Pfizer Australia Holdings Pty Limited agreed to acquire ResApp Health Limited (ASX:RAP) for approximately AUD 100 million on April 11, 2022. The offer price is AUD 0.115 cash per share. The offer has been updated to AUD 0.146 cash per share on June 14, 2022. The transaction will be implemented by scheme of arrangement. The offer has been revised to AUD 0.208 per share as on August 5, 2022. On implementation of this scheme, ResApp will become a wholly owned subsidiary of Pfizer Australia and each of ResApp's subsidiaries will form part of the combined group. The scheme will be funded using funds made available by Pfizer. The Pfizer and ResApp will pay AUD 1.26 million as termination fee. The deal has been unanimously approved by the board of target and is subject to approval from court, ACCC, regulatory and target shareholders. As of July 18, 2022, the ACCC condition has been satisfied. The scheme meeting is postponed from August 19, 2022 to a date yet to be decided. As of September 7, 2022, ResApp Health shareholders approved the transaction. As of September 14, 2022, The scheme was approved by the Supreme Court of New South Wales.

The transaction is expected to be implemented by mid to late August 2022. As of July 15, 2022, the scheme is expected to be effective on August 26, 2022. As of September 7, 2022, transaction is expected to be implemented on September 14, 2022. Azure Capital Pty Ltd. acted financial advisor to ResApp Health Limited. James Nicholls and Ben Griebe of DLA Piper Australia Pty Ltd acted as legal advisor to ResApp Health Limited. Jeremy Low and Andrew Wong of Allens acted as legal advisor to Pfizer Australia Holdings Pty Limited. Sherif Andrawes and Adam Myers of BDO Corporate Finance (WA) provided fairness opinion and charged fee of AUD 50,000 and Link Market Services Limited and Automic Registry Services acted as registrar to ResApp.

Pfizer Australia Holdings Pty Limited completed the acquisition of ResApp Health Limited (ASX:RAP) on September 15, 2022.