UniDoc Signs Definitive Agreement with Sirach Health and Wellness
UniDoc Signs Definitive Agreement with Sirach Health and Wellness
This news release is not for distribution to U.S. newswire services for dissemination in the United States
Vancouver, BC – May 4, 2022 – UniDoc Health Corp. (“UniDoc Health” or the “Company”) (CSE: UDOC – ISIN: CA90468F1027 – WKN: A3C87U), an innovator in the telehealth sector, is pleased to announce, further to its news release dated March 22, 2022, that it has entered into a definitive master equipment deployment and services agreement (the “Agreement”) with Sirach Health and Wellness Inc. (“Sirach”) of Tucson, Arizona.
Sirach has indicated they have a plan in place to provide access to a network of dedicated physicians and medical personnel partially through the support of the government of the state of Arizona, the Department of Veteran’s Affairs, municipal agencies, and corporate donors.
Pursuant to the Agreement, the Company has agreed to a master deployment agreement and framework for the leasing of certain telehealth equipment and the licensing of related software including, the Virtual Care Solutions Model (“VCSM”) kiosks to Sirach. In particular, Sirach has agreed to pay monthly telehealth service fees to UniDoc for the use of the VCSM kiosks. The VCSM is a proprietary customizable and comprehensive telehealth solution that is currently being developed by the Company and is being designed to integrate a range of physical products, web-based services, and analytical tools, along with access to the Company’s developing network of healthcare providers, pharmacies, and hospitals.
The Company and Sirach agreed to an initial equipment rollout of VCSM kiosks and minimum subscription model pursuant to the Agreement. The Agreement has a possible value of up to approximately US$6 million over the Agreement’s five-year term based on a gradual roll-out of no less than 20 initial VCSM kiosk locations to ultimately provide services to up to 10,000 people in the City of Tucson. The delivery of these initial VCSM kiosks and any additional kiosk locations are all subject to the commercialization of the VCSM kiosk by the Company, completion of successful site studies by both parties and other customary conditions. As at the date of this news release, the VCSM remains under development by the Company and has not generated any revenues. There is no guarantee that any service fees will be paid to UniDoc under the Agreement or that the VCSM will generate any revenues at all.
The Company also agreed to provide certain data management and telecommunications services to be used by Sirach to provide in-suite telehealth and related services in its designated facilities. The software and telecommunications services will provide Sirach with access to an authentication service and on-line portal which permits secure, live-streaming videoconferencing and transmission of diagnostic data between on-site patients physically using individual kiosks units and remote healthcare professionals accessing the portal.
The Company has agreed to install the VCSM kiosks and perform initial functionality tests at locations to be specified by Sirach. The Company has also agreed to provide to Sirach on-site training, follow-up training, troubleshooting, and certain maintenance services and supplies including hardware support, software updates, data analysis, and annual on-site testing and maintenance. The rental periods, delivery locations, fee schedule, and specifics of additional the telehealth equipment will be agreed to by the parties in subsequent equipment orders. Sirach advises the Company that the initial VCSM kiosks will be located with the intent to serve the region’s veterans, homeless individuals, and low-income populations.
The Agreement is for an initial period of five years and automatically renews for an additional five years unless terminated upon written notice by either of the parties. The payment of service fees to UniDoc by Sirach under the Agreement commences only upon the delivery of the initial VCSM kiosks by UniDoc to Sirach. A further news release will follow if initial delivery of VCSM kiosks has been successfully made by the Company to Sirach.
UniDoc CEO Antonio Baldassare notes, “We are very pleased and excited to begin working with the team at Sirach. From the outset they have been highly enthusiastic and committed to a successful outcome. With this agreement in place, we can begin to penetrate a strategically important market with the delivery of meaningful telehealth results to a deserving but underserved segment of the population. We thank the folks at Sirach for this incredible opportunity and look forward to getting our kiosks into the target communities across Arizona as soon as possible”
About Sirach Health Wellness
Sirach aims to be Arizona’s premier health and wellness center of choice for physicians, employees, and shareholders by providing essential, high-quality, patient-centered healthcare within the communities they serve. Sirach’s goal is to eliminate the traditional barriers and challenges to providing healthcare for those who do not have access, who do not have the means, and who lack the knowledge of securing healthcare.
On Behalf of The Board of Directors,
Sincerely,
Antonio Baldassarre
CEO, President & Director
UniDoc Health Corp. (CSE: UDOC)
As part of the Company’s disclosure obligations as a public issuer, ongoing financial and material filings can be found under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
About UniDoc Health Corp. (CSE: UDOC) (FRA: L7T)
UniDoc is developing a telehealth solution which is being designed as a self-contained remote virtual clinic within a private kiosk for patients to undergo full consultations as if they were present in a physician’s office. Telehealth opens the doors to a large segment of the population challenged by access, experience or understanding of online computer technology. It is the Company’s belief that physical accessibility is the key to its business proposition. UniDoc is dedicated to unlocking shareholder value by delivering an excellent product and sophisticated commercial network within an expedited timeframe. The UniDoc team encourages engagement, questions, and interest, so please stay in touch, and invite anyone who might be interested in our story to visit our website at www.unidoctor.com and signup to receive the latest information with updates on our activities, events, and progress. You are also invited to join us on social media with Facebook, Twitter or Instagram.
For further information, please contact:
UniDoc Investor Relations
Tel: +1 778.383.6731
Email: [email protected]
Matt Chatterton, Director
Tel: +1 778.613.2082
Email: [email protected]
Media Inquiries
About this press release:
In Germany this press release is brought to you by www.aktien.news – your German news platform for international smallcap stocks. For more information visit https://www.akt.ie/nnews.
Forward-Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “may”, “would”, “could”, “will”, “likely”, “except”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s primary product offering and features thereof, the entry into and the terms of a definitive agreement with the Partner upon satisfactory test results, the potential for the placement of the Company’s products in pharmacies and other locations across The Republic of Ghana, the anticipated benefits of a partnership with the Partner and the Company’s commercialization of the telehealth platform.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s final prospectus dated December 2, 2021 under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
