Brief: Medicalgorithmics Gets Termination Of Deals With React

Medicalgorithmics SA

23/10/2023 07:10

Oct 23 (Reuters) - Medicalgorithmics SA  MDG.WA :
    * SAID ON SUNDAY THAT IT HAS RECEIVED NOTICE OF TERMINATION
OF
DEALS REGARDING COOPERATION WITH COMPANIES FROM REACT GROUP 
    * TERMINATION OF DEALS IS EFFECTIVE AS OF DECEMBER 31, 2023
    * BY THE END OF Q2, REACT GROUP WAS COMPANY'S ONLY CLIENT IN
THE
US GENERATING REVENUES IN THIS MARKET, ADDITIONALLY, THESE
REVENUES DECREASE SUCCESSIVELY, REMAINING ABOVE THE MINIMUM
LEVELS SPECIFIED IN THE DEALS WITH REACT
    * COMPANY IS CONDUCTING TALKS ON POSSIBLE CONTINUATION OF
COOPERATION WITH REACT FROM 2024
    * THE STRATEGY ADOPTED BY THE COMPANY AND THE IMPLEMENTED
ACTION
PLAN TOOK INTO ACCOUNT AND PREPARED THE COMPANY FOR THE RISK OF
TERMINATION OF THE DEALS WITH REACT ON THE US MARKET RELATED TO
THE TERMINATION OF THE EXCLUSIVE USE OF THE COMPANY'S TECHNOLOGY
AND CHANGE OF STRATEGY ON THIS MARKET

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM9js910a
 Further company coverage:  MDG.WA  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))