By IMS Capital Partners GmbH investing EUR 7,500,000 as working capital in Digital Diagnostics AG, Sencell will be further developed and completed. In return, Lifecare AS will give Digital Diagnostics AG a license agreement for Lifecare AS’ technology and IP in all business areas beyond Lifecare AS’ business area (long-term continuous glucose monitoring of patients with diabetes type 1 and 2). The license is not exclusive to Digital Diagnostics AG, but Digital Diagnostics AG expects great value creation as a result of immediate access to the Lifecare technology. This value creation will benefit all shareholders. Digital Diagnostics AG will be owned 50,1 % by IMS Capital Partners GmbH, 25 % by Lifecare AS and 24,9 % by the company’s employees and Board.
When Lifecare AS’ sensor technology is developed, Lifecare AS will have full ownership of the original IP that has been developed up until 15 January 2020. Lifecare AS will also have unlimited rights to utilize all technology and IP developed through the cooperation with Digital Diagnostics AG, for use within Lifecare AS’ business area.
For Lifecare AS’ shareholders the joint venture with IMS Capital Partners GmbH entails: