You make good points. The acquisition cost is high given HintMD's $1.5mill revenue in 2019, but that revenue should help offset IT-related costs. I don't think it's a foregone conclusion that this platform will only be for RVNC now. Part of their rationale for buying was to gain the fees collected through the service. I think that while the cost is steep, Revance has their eyes set on the bigger prize...stealing away market share from AGN/ABBV. They needed to get a system like this that provides them with the tools they need, especially the loyalty program and subscription services. I do agree that they could have just used that service (rather than owning it), but they must see the forest through the trees and have good reasons for making an all-out acquisition.
News 
Market Data 
Discover 
