Semler Scientific Shareholders Face Pivotal Vote on Radical Bitcoin Shift

Semler Scientific US81684M1045

A definitive verdict on the future trajectory of Semler Scientific is just two weeks away. The medical device firm stands at a crossroads, with a controversial plan to merge with Bitcoin-focused fund Strive Asset Management now receiving a critical endorsement from a leading proxy advisor. This move comes as the proposed deal's value has plummeted and the company's core operational challenges intensify.

The urgency behind Semler Scientific's strategic reconsideration is underscored by severe deterioration in its primary operations. Recent quarters have revealed a company in distress:

• A dramatic 43% revenue collapse was recorded in the second quarter.
• The loss of two key clients, which together accounted for 60% of Q3 2025 sales, has severely impacted the top line.
• In response, management has initiated a restructuring plan, cutting 37% of its workforce. These layoffs are projected to yield quarterly savings of $0.7 to $1.1 million, starting in January 2026.

This operational backdrop sets the stage for the radical proposal to abandon the healthcare diagnostics sector entirely.

Proxy Advisor Backs Controversial Merger with Strive

Institutional Shareholder Services (ISS) has advised Semler Scientific shareholders to approve the planned acquisition by Strive Asset Management. The pivotal shareholder vote is scheduled for January 13, 2026. ISS's supportive stance increases the likelihood of the merger's passage.

However, the financial appeal of the transaction has diminished significantly. The implied offer price for each Semler share has fallen from approximately $90.52 to just $21.68. This decline is directly tied to the depreciating value of the acquisition currency—shares of the buyer, Strive (ticker: ASST). Strive's stock has lost substantial value and fell more than 5% in pre-market trading today.

High-Stakes Strategy Mirrors MicroStrategy, Carries Unique Risks

If approved, the merger would transform Semler Scientific from a medical technology provider into a dedicated Bitcoin holding company. The combined entity would immediately hold a treasury of roughly 12,573 Bitcoin, positioning it among the world's largest corporate holders of the cryptocurrency.

This strategy explicitly follows the blueprint of MicroStrategy but introduces distinct risks. Strive Asset Management itself reported a US GAAP net loss of $192 million for the third quarter of 2025, raising concerns about the financial stability of the merged company beyond its Bitcoin reserves.

Strive has outlined aggressive acquisition targets, aiming to accumulate between 23,000 and 25,000 Bitcoin by the end of 2026, with a target average purchase price of $90,000 to $95,000 per coin.

The decision now rests with Semler Scientific's shareholders. A vote in favor on January 13 would commit the new company to a dual challenge: managing a billion-dollar Bitcoin treasury while simultaneously restructuring or winding down the ailing legacy healthcare business. The first cost savings from the ongoing workforce reduction are anticipated in Q1 2026.