MedAdvisor (ASX:MDR) said that the proposed acquisition of 100% of MedAdvisor International and its subsidiaries and all intellectual property carries a headline price of AU$35 million, according to a Friday Australian bourse filing.
MedAdvisor International conducts the firm's Australia and New Zealand business.
An uncapped contingent consideration comprised of a three-year earn-out based on performance will also be available.
It granted the acquirer an exclusive right to conduct due diligence on the business and negotiate formal sale documentation in line with the letter of intent for around five weeks, with the ability to extend for a further two weeks.
Assuming due diligence and negotiations proceed positively, the timeframe for the execution of a binding sale agreement is expected to be around June 30.
Its shares plummeted 28% in recent trading on Friday.
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