MONTREAL, June 01, 2018 (GLOBE NEWSWIRE) -- ZoomMed Inc. (the “Corporation” or “ZoomMed”) (TSX Venture Exchange:ZMD) and KDA Group Inc. (“KDA”) (TSX Venture Exchange:KDA) are proud to announce an agreement whereby Group KDA could distribute under a non-exclusive license the ZRx Prescriber, develop by ZoomMed, in the United States. The Corporation and Group KDA are also expecting to conclude, shortly, a joint venture agreement in order to unite their expertise for the development and commercialization of the ZRx Prescriber in the US market. ZoomMed and Group KDA are arms’ length parties.
Group KDA will issue ZoomMed 10,000,000 common class A shares of its share capital (the “Common Shares”) at a deemed value of $1,720,000 CND, based on the average closing price of the Common Shares for the last 52 weeks to April 30th, 2018, being $ 0.172 CND per Common Share. In addition, ZoomMed will be entitled to receive royalties, up to US $2,500,000 under certain terms and conditions. The Common Shares will be subject to a four month and one day mandatory holding period.
"This agreement will advantageously propel ZoomMed’s healthcare solutions in the vast US market estimated at more than 800 million US dollars. The expertise of KDA Group’s management and the team of its subsidiary pharmaceutical communication will definitely be an additional strategic key to our success," said Mr. Yves Marmet, President and CEO of ZoomMed.
"Our subsidiary’s mission is to provide excellence at all times through the distribution of educational and communication programs in the medical field, from the development to the implementation of strategies offered to large pharmaceutical companies for the purpose of improving patients’ health. Thanks to ZoomMed's technology platform, we will be able to expand our service offerings to physicians and patients in the US market," said Marc Lemieux, President and CEO of KDA Group.
"The e-prescribing market for 900,000 American physicians offers the perfect window of opportunity for the commercialization of ZoomMed's software solution and business model," added M. Lemieux.
The agreement and Common Shares issuance are subject to all required approvals including the final approval of the TSX Venture Exchange.
About ZoomMed
ZoomMed builds and operates ZoomMed’s Communication Network, a clinical interoperable information exchange network between physicians and the various other stakeholders of the healthcare sector, such as pharmacists, specialists, pharmaceutical corporations and private insurers.
The cornerstone of this network is the ZRx Prescriber, an innovative Web technology application that greatly simplifies prescription writing for physicians. Since it is a stand-alone product, it can easily be integrated into any Electronic Medical Record (EMR) application.
For further information on ZoomMed, please contact Mr. Yves Marmet, President and Chief Executive Officer at info@zoommed.com or visit our Web Site; www.zoommed.com.
About KDA Group
KDA Group is a leading solution and service provider to the pharmaceutical market for the distribution of generic drugs and specialized solutions. Today, it is a respected name for quality and expertise among pharmacists. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally.
Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements made in this news release that are not historical facts are “forward-looking statements” and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these “forward-looking” statement.