King & Wood Mallesons (KWM) has advised Hills Limited on the proposed merger of its Hills Health Solutions business with Lincor, Inc. to form Lincor Limited, a newly incorporated company which will be demerged from Hills Limited and listed on the ASX.

Lincor Limited will be a leading global provider of patient engagement technology solutions with strong recurring revenues and a growing Software as a Service (SaaS) platform.

Hills and Lincor Solutions’ shareholders will each hold approximately half of Lincor Limited’s shares prior to new capital being raised through the IPO to provide financial flexibility, repay debt, pay transaction costs and accelerate global growth.

The KWM team was led by partners Lee Horan and David Friedlander along with senior associate Anthony Boogert.

Commenting on the deal, partner Lee Horan said, “We are pleased to have been able to support Hills on this important deal. Hills Health Solutions and Lincor have a strong existing commercial relationship and we are delighted to have been able to assist in the proposed merger of these two entities for the benefit of Hills’ shareholders.”