ASX-listed Advanced Human Imaging (AHI) has signed a letter of intent for the proposed acquisition of Israeli based musculoskeletal assessment (MSK) company Physimax Technologies for US$6m. The transaction will be satisfied with the proceeds of a share issue.
AHI will provide further information relating to the proposed acquisition once the Binding Terms Sheet is signed, which is due imminently.
Physimax has developed a video-based objective solution that tracks and improves MSK wellness and performance by objective, data-driven analysis of musculoskeletal condition via video capture using a mobile device. Physimax technology automatically measures and scores mobility, stability, strength, and movement control by real-time marker-less 2D/3D computer vision analysis. Physimax has been chosen by top healthcare providers, elite sport organizations, D1 colleges, US Military units, and youth academies and validated by top U.S. academic institutes with proven impact in reducing injury risk and expenses.
In addition, AHI has agreed to issue up to a further US$2m in AHI shares pursuant to an earn out arrangement to be shared with key employees on terms to be agreed.