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by Stockwatch Business Reporter
The TSX Venture Exchange added 4.40 points to 671.49 Tuesday, ending the month down 20.96 points. Amar Bhalla's capital pool shell, LL Capital Corp. (LLA), has closed its qualifying transaction by acquiring Syncordia Technologies and Healthcare Solutions Inc.
LL Capital rolled back 1:20, leaving it with 450,000 postconsolidated shares, and then issued 19,643,635 postconsolidated shares to the shareholders of Syncordia. The company has changed its name to Syncordia Technologies and Healthcare Solutions Corp. and it anticipates resuming on the TSX-V under symbol SYN next week, probably July 8.
Syncordia, founded in early 2014 by Michael Franks, designs management and billing software for ambulance and other health care companies. The software, called Syncordia Cloud, handles claim entries, computer-aided dispatch and medical billing services, according to the company. Last October, Syncordia acquired Health Services Integration Inc., a California company that designs software for air and ground ambulance service providers across 10 states. It is a profitable operation that earned $869,747 (U.S.) on revenue of $10.07-million (U.S.) in the year ended Dec. 31, 2014. Then in April, Syncordia acquired Paragon Billing LLC, a designer of billing software.
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