Sep. 18 at 4:11 PM
DataMEDS AI, Inc. (NASDAQ:
$MEDS ) has settled litigation tied to the May 2023 Wellgistics, LLC purchase agreement, extinguishing liabilities of approximately
$19 million that had been carried on its balance sheet. The Tampa-based Health IT company pairs its EinsteinRx artificial intelligence platform and PharmacyChain smart contracts platform with pharmacy, pharmaceutical-adjacent and telemedicine business units.
DataMEDS AI, Inc. is a B2i Digital Featured Company. See the company's in-depth profile at: https://b2idigital.com/datameds-ai-inc-1
The consideration came in two parts, cash and retired shares, with the full terms in the company's SEC filing:
• 364,099 shares of DataMEDS common stock were retired as part of the settlement agreement.
• The company paid a total of
$450,000 in cash for the settlement.
• Additional terms are set out in a Form 8-K filed with the SEC and linked in the release.
Regarding the company's focus following the settlement, Gerald E. Commissiong, Interim Co-CEO of DataMEDS, stated: "The Company is pleased to put this outstanding litigation behind it so it can focus on solving healthcare's biggest challenges for our clients through the vertical integration of healthcare delivery, and the compliant tokenization of pharmaceutical supply tracking and patient data."
Read the full release: https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/datameds-ai-litigation-settlement-extinguishes-19-million-in-liabilit-1223546
DataMeds AI, Inc. (NASDAQ:MEDS) (formerly Wellgistics Health, Inc.) is a leading Health IT company that focuses on the vertical integration of technology, pharmacy, pharmaceutical-adjacent and telemedicine business units to deliver a better healthcare experience for consumers. Headquartered in Tampa, Fla., DataMeds AI incorporates the artificial intelligence platform EinsteinRx™ and blockchain-enabled smart contracts platform PharmacyChain™ into the Health Lives Here mobile application, and its Corexa Health subsidiary provides pharmacy and pharmacy services, including the distribution of products developed by Tollo Health, LLC.
Discover more Featured Companies, Featured Experts, and upcoming Featured Conferences at b2idigital.com.
B2i Digital is not a broker-dealer or investment adviser. This post is informational and not an offer or solicitation regarding any security. See the complete Disclosure at https://b2idigital.com/disclaimer.
$OPRX,
$HCAT,
$PHR,
$XLV