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ALC following a similar path to MDR - acquiring an international healthcare org for ~AU$55M.

Shareholders showing some dissatisfaction with the opportunity.

Raise and placement well below current share price, which received similar commentary to MDR's terms to acquire Adheris.

For $55M, they get Silverlink who is forecasting annual revenue at $7.8M.

Adheris earned MDR $12.1M in the September quarter.

Makes MDR's acquisition of Adheris (buy price and forecast revenue) seem not too bad, when looking at ALC's purchase.

Will be interesting to see what happens to both companies in 2022.