Davion Healthcare Acquires Intellectual Property Relating To Two Medical Technologies, WoundSkan And Spektra Lateral Flow Test, For Total Consideration Of $25M

Davion Healthcare Plc (NASDAQ:DAVI) ("Davion" or the "Company"), a next-generation digital healthcare company developing proprietary health monitoring technologies, today announces that it has completed the acquisition of the intellectual property relating to two medical technologies: WoundSkan, a smart wound-monitoring dressing, and the Spektra Lateral Flow Test, a rapid multi-marker screening platform.

The intellectual property was acquired from the four shareholders of Humaskan Ltd for a total consideration of US$25 million, comprising US$2.5 million in cash and 1,730,770 new ordinary shares in Davion, to be issued at an agreed fixed contractual value of US$13.00 per share (approximately US$22.5 million). The number of shares is fixed and will not vary with movements in the Davion's share price.