Pear Therapeutics Inc announced that it is engaged in a process to explore strategic alternatives—including acquisition, sale, or merger—to maximize shareholder value. 

MTS Health Partners, an investment bank that provides strategic and financial advice to the healthcare industry, will act as the company’s financial advisor to assist in evaluating potential alternatives. 

As part of its process, Pear Therapeutics is exploring the potential for an acquisition, company sale, merger, divestiture of assets, licensing, or other strategic transactions and/or seeking additional financing. There is no set timetable for this process, and there can be no assurance that this process will result in the company pursuing a transaction or that any transaction, if pursued, will be completed on attractive terms, according to a press release by Pear Therapeutics. 

If the company is unable to complete a transaction, it may be required to seek a reorganization, liquidation, or other restructuring. The company does not expect to disclose or provide an update concerning developments related to this process unless or until the company’s board of directors has approved a definitive course of action or otherwise determines that other disclosure is necessary or appropriate.

Pear’s third product, Somryst for the treatment of chronic insomnia, was the first prescription digital therapeutic submitted through FDA’s traditional 510(k) pathway while simultaneously reviewed through FDA’s Software Precertification Pilot Program.

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