Fourth Definitive Agreement Signed for Africa
VANCOUVER, British Columbia, September 27, 2022 — UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF) (“UniDoc,” or the “Company”), an innovator in the telehealth sector, is pleased to announce that it has entered into a definitive master equipment deployment and services agreement (the “Agreement”) with Mbelem (Pty) Ltd. (“Mbelem” or the “Partner”) to provide telehealth services in South Africa.
Pursuant to the Agreement, UniDoc 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 from the Company Mbelem for monthly service fees. 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 the Partner agreed to an initial equipment rollout of VCSM kiosks and minimum subscription model pursuant to the Agreement. The Partner anticipates these kiosks will be located at locations throughout South Africa. The Agreement provides for an initial minimum of 1,000,000 patient subscribers within 12 months from the date of kiosk installations and has a value of up to approximately US$120 million over the Agreement’s five-year term based on the initial quantity of kiosks. The Agreement also provides for a ramp-up to service for additional patient subscribers. The delivery of initial VCSM kiosks and any ramp-up of 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 the Partner to provide in-suite telehealth and related services in its designated facilities. The software and telecommunications services will provide the Partner 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. Medical personnel for the VCSM kiosks will be coordinated by the Partner.
The Company has agreed to install the VCSM kiosks and perform initial functionality tests at locations to be specified by the Partner. The Company has also agreed to provide to the Partner on-site training, follow-up training, troubleshooting, and certain maintenance services and supplies including hardware support, software updates, data analysis (upon request), and annual on-site testing and maintenance.
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 the Partner under the Agreement commences only upon delivery of the initial VCSM kiosks by UniDoc to the Partner. A further news release will follow if initial delivery of VCSM kiosks has been successfully made by the Company to the Partner.
UniDoc CEO Antonio Baldassare notes, “We are seeing a strong demand for accessible health care around the world. UniDoc is working hard to help address that part of that demand. We are excited to work with MBleme to bring our Virtual Care Solutions Model to the people of South Africa. Our kiosks will help to allow our Partner’s network of health care professionals connect with patients throughout the country.”
On Behalf of the Board of Directors,
CEO, President & Director UniDoc Health Corp.
About UniDoc Health Corp. (CSE: UDOC) (FRA: L7T) (OTCQB: UDOCF)
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
Matt Chatterton, Director
Tel: +1 778.613.2082
Media Inquiries firstname.lastname@example.org
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”, “will be”, “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 delivery of the Company’s VCSM kiosks to locations across South Africa, the potential number of patient subscribers and revenue that may be derived therefrom, 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 successfully develop and commercialize VCSM kiosks for delivery to the Partner or develop and commercialize the VCSM at all; risks that the Company will not be able to produce or secure sufficient manufacturing capability to produce the quantity of VCSM kiosks requested by the Partner under the Agreement; risks that the site studies of the VCSM kiosk by the Partner will not be satisfactory to the Partner; risks that current and any future global supply chain issues will delay the development of the VCSM kiosks and ultimately the delivery of the VCSM kiosks to the Partner under the Agreement; risks that the Company and/or the Partner will not be able to secure required financing on reasonable terms or at all; geopolitical risks and other business risks associated with and specific to the Republic of Kenya; risks with respect to the implementation of laws and regulations that may impose restrictions on the Company’s product offering in the Republic of Kenya; 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.
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