Unveiling the Acquisition
iCoreConnect Inc’s stock ICCT surged after the announcement of the acquisition of Verifi Dental, with the financial details remaining undisclosed. This strategic move is expected to augment iCoreConnect’s SaaS software solutions for the healthcare domain, as expressed by the company’s President and CEO, Robert McDermott.
McDermott emphasized, “This strategic acquisition signifies positive momentum for the Company and the advancement of our growth strategy. The addition of Verifi brings iCore enhanced capabilities, a broader market presence, and ultimately improves the value we offer to our customers and stakeholders.”
The move is positioned to fortify iCoreConnect’s position in the insurance verification sector, leveraging the strengths and expertise of both entities to offer a more comprehensive range of products and services, promising synergies and operational efficiencies. This acquisition closely follows their recent deal with Teamworx Dental earlier this month and the acquisition of FeatherPay last week, underscoring the company’s robust expansion initiatives.
Financial Update & Market Response
As of September 2023, the company maintained a cash reserve of $0.457 million. The market expressed its resounding approval, propelling ICCT shares by a staggering 17.69% to $1.53 premarket on the last check Wednesday
