Quick Take
RBC Ventures, a unit of Royal Bank of Canada (RY) has announced the acquisition of Dr. Bill for an undisclosed amount.
Dr. Bill has developed a mobile medical billing software system for doctors located in Canada.
With the deal, RY acquires a convenient way to support healthcare professionals in its RBC Healthcare unit.
The stock appears fully valued at its current level, especially given downward pressure on interest rates amid a slowing economy and continued margin compression, so my bias is NEUTRAL.
Target Company
Vancouver, BC, Canada-based Dr. Bill was founded