Pfizer raises offer for Australian digital health company

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Pfizer has significantly raised its offer for Australian digital health company ResApp Health (ASX:RAP) to a price that reflects the recent findings of an independent report.

In April, Pfizer Australia announced the plan to acquire the company that develops smartphone applications for the diagnosis and management of respiratory disease.

Australia's competition regulator (ACCC) recently announced that after considering the information provided by the parties it does not intend to conduct a public review of the proposed acquisition.

Under the new arrangement, Pfizer will increase its previously consideration of $0.115 per share to $0.208 per share.

This new offer more closely reflects the preferred value recommended in an independent report.