SYDNEY, AUSTRALIA: HITIQ Limited (ASX: HIQ) has entered into a Share Purchase Agreement to acquire all of the issued shares in CSX Limited (CSX).

Acquisition price is A$0.857 million cash, with a further A$0.250 million cash to be paid within 18 months of acquisition based on agreed KPI’s.

CSX Limited is a New Zealand based company that provides class leading concussion assessment technology through its application software to over 800 global Elite and Consumer customers, representing 45,000 users.

The technology works by simplifying the collection of comprehensive, objective and player-specific concussion assessment data within a cloud-based application. The data can be reviewed and shared with health care professionals to assist in their evaluation and healthcare recommendations.

CSX is currently used by several professional sports associations globally including World Rugby, National Rugby League (NRL), Australian Football League (AFL), New Zealand Rugby, New Zealand Cricket, and the England and Wales Cricket Board (ECB).

The acquisition of CSX forms part of HITIQ’s growth plan and will fast-track the Company’s technology platform development.

CSX Founder and CEO, Ed Lodge, said: “We are delighted to join HITIQ, who we believe have market leading technology and a vision that is both exciting and meaningful. Our mission when we founded CSX was to help individuals better manage brain injury, and together with HITIQ, we believe our technology can reach the masses. We are excited to integrate our technologies and get to work with HITIQ’s team.’’

HITIQ CEO, Mike Vegar, commented: “We are thrilled to add the CSX class leading product to our technology ecosystem. The addition of CSX to the HITIQ platform will strengthen our growing networks around the world, while supporting our current partners with a streamlined and consolidated approach to concussion management.

CSX is the first step in extending our platform not only in the elite sports market but also providing a clear pathway into community sports. We look forward to working with Ed and his team in helping scale his vision and ultimately assist customers drive better health outcomes for their players and children.’’

HITIQ Limited (ASX: HIQ) operates in the healthcare equipment sector, providing and further developing a transformative, end-to-end concussion management technology platform. www.hitiq.com

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