DarioHealth To Acquire Physimax - Quick Facts
(RTTNews) - DarioHealth Corp. (DRIO) has agreed to purchase all of the right, title and interest in certain assets of Physimax Technologies Ltd., a provider of computer vision technology for Musculoskeletal functional screening and predictive risk of injury assessment. In consideration, DarioHealth agreed to issue up to 256,660 shares of its common stock, subject to a lock up period, plus a cash payment of $500,000, as well as agreed to assume certain liabilities in an approximate amount of $1.02 million.
Physimax's technology is currently in commercial use by NBA and NFL teams, the U.S. military and health care facilities specializing in orthopedic care.
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