Adia Med sells 30% stake in Adia Labs to Live Oak Health for $1.5 million
ADIA•Adia Med agreed to sell a 30% stake in subsidiary Adia Labs to Live Oak Health for $1.5 million: $1 million in cash and a $500,000 promissory note bearing 7% interest.
1. Sale terms
The deal is set to close after Adia Med receives the $1 million wire transfer, due by Sept. 30, 2026, unless extended. Live Oak Health received an option to buy up to an additional 10% at $50,000 per unit through 5 p.m. ET on Sept. 30, 2028. Voting control will be split equally at closing despite the 70%-30% economic ownership, and will remain equal if the option is exercised.
