Brief: Medicalgorithmics Signs Amendment Deal With React Health And Medi-Lynx

Medicalgorithmics SA

06/02/2023 07:17

Feb 6 (Reuters) - Medicalgorithmics SA  MDG.WA :
    * SAID ON FRIDAY THAT IT HAS BEEN SIGNED AMENDMENT AGREEMENT
WITH
REACT HEALTH HOLDINGS AND ITS AFFILIATED COMPANY MEDI-LYNX
CARDIAC MONITORING
    * AMENDMENT AGREEMENT CHANGES SUPPORT AND LICENSE DEALS WITH
MEDI-LYNX
    * IT ALSO HAVE BEEN SIGNED SUPPORT AND LICENSE DEALS WITH
REACT
HEALTH AND ITS AFFILIATED COMPANY MEDICOMP 
    * AMENDMENT AGREEMENT PROVIDES THAT ON FEBRUARY 28, THE
EXCLUSIVITY OF THE LICENSE TO USE THE COMPANY'S INTELLECTUAL
PROPERTY BY MEDI-LYNX AND REACT HEALTH AND THE EXCLUSIVITY RIGHT
OF THESE ENTITIES TO SELL, MARKET AND DISTRIBUTE THE COMPANY'S
PRODUCTS AND SERVICES IN THE USA WILL EXPIRE
    * THIS MEANS THAT STARTING FROM MARCH 1, THE COMPANY WILL BE
ENTITLED TO SUPPLY PRODUCTS AND SERVICES ALSO TO OTHER ENTITIES
IN THE UNITED STATES, WHICH WILL MAKE IT POSSIBLE TO ACQUIRE NEW
DISTRIBUTORS ON THIS MARKET
    * UNDER AMENDMENT AGREEMENT, STARTING FROM MARCH 31, THE
NOTICE
PERIOD FOR THE SUPPORT DEAL IS REDUCED TO 60 DAYS
    * THE CHANGED LICENSE DEAL PROVIDES FOR THE LICENSE TO
EXPIRE
AFTER TWO MONTHS, INSTEAD OF TWO YEARS, FROM THE OCCURRENCE OF
TERMINATION EVENTS SPECIFIED IN THE AGREEMENT, SUBJECT TO THE
EXCEPTIONS PROVIDED FOR IN THE LICENSE AGREEMENT CONCLUDED WITH
MEDICOMP, SUCH AS TERMINATION OF OPERATIONS OR INSOLVENCY OF THE
COMPANY, WHEN A TWO-YEAR PERIOD APPLIES
    * OTHER REGULATIONS OF THE MEDI-LYNX SUPPORT AND LICENSE
DEALS AND
THOSE CONCLUDED WITH MEDICOMP, INCLUDING THE REMUNERATION
RECEIVED BY THE COMPANY, HAVE NOT CHANGED SIGNIFICANTLY
    * PAYMENTS TO THE COMPANY UNDER CONCLUDED OR AMENDED
CONTRACTS ARE
STILL GUARANTEED BY REACT HEALTH
    * UNDER AMENDMENT AGREEMENT THE PARTIES AGREED THAT THE
SUPPORT
AGREEMENT AND LICENSE DEALS CONCLUDED WITH MEDI-LYNX WILL BE
TERMINATED UPON THE ACTUAL TERMINATION OF THE PROVISION OF
MONITORING SERVICES BY MEDI-LYNX, AFTER THE TRANSFER OF THESE
ACTIVITIES TO MEDICOMP, AND CONSEQUENTLY THE PROVISION OF THESE
SERVICES IN COOPERATION WITH THE COMPANY WILL CONTINUE UNDER
SUPPORT AND LICENSE DEALS CONCLUDED WITH MEDICOMP   

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM4gzHX1a
 Further company coverage:  MDG.WA  
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