SYDNEY, AUSTRALIA: Advanced Human Imaging Ltd (ASX: AHI) has entered into a definitive arrangement agreement to acquire all outstanding shares of wellteq Digital Health Inc.
wellteq Digital shareholders will receive one ordinary share of AHI for every six wellteq common shares held. AHI will issue a total of approximately 17,811,508 AHI shares in total consideration for 100% of wellteq’s shares.
Following completion of the Transaction, wellteq shareholders in aggregate will hold approximately 9.573% of AHI’s issued capital.
In conjunction with the arrangement agreement, AHI and wellteq have entered into a loan agreement, whereby AHI has agreed to advance to wellteq up to A$1.2 million.
wellteq is a global digital health provider, empowering people to be healthier and happier by coaching lasting behaviour change by delivering a digital health platform to employers and insurance corporate customers, who in turn offer it to their employees and policy holders respectively. wellteq provides the supportive behavioural change that coaches people through lifestyle improvements. wellteq’s shares are currently listed on the Canadian Securities Exchange (CSE).
The Transaction will see AHI acquire wellteq’s complementary software assets in the health and wellness space, which are intended to be integrated with AHI’s software assets. AHI also consider wellteq’s target market to be consistent with its current focus.
Wellteq, incorporated under the laws of the Province of British Columbia, Canada, is a global digital health provider, empowering people to be healthier and happier by coaching lasting behaviour change. wellteq brings together a team of real people, connected by a shared purpose: to coach the world to better health.