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 .
For further details see:
AHI inks licensing deal with Changlin to offer healthcare services in China