AHI - AHI inks licensing deal with Changlin to offer healthcare services in China

2023-08-02 10:00:27 ET

• Advanced Health Intelligence ( NASDAQ: AHI ) has signed a license agreement with Shanghai-based Changlin Network Technology to provide health assessment services in China.
• Under the agreement, Changlin will pay AHI US$10 million for the exclusive and perpetual right to AHI's technology.
• Changlin will also pay AHI an annual license fee of US$5 million in addition to any revenue share.
• AHI will receive a 25% revenue share of Changlin's gross sales. The revenue share will be paid quarterly in arrears.
• Changlin will localize the IP and, if necessary, develop its own IP related to the licensed technology, and may only commercialize the technology within China.
• Through the agreement, AHI will initially hold a 50% stake in Changlin.
• Changlin expects to go public in 2024, and in such an event, AHI will maintain up to 25%, but not less than 20%, of its common shareholding in Changlin at the IPO.
• Press Release .

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