- Lifespot Health (LSH) has granted fellow ASX lister, Jayex Healthcare (JHL), a software licence agreement for its BodyTel software platform and Bluetooth technology
- The initial five year licence deal is exclusive in the U.K. and non-exclusive in Australia and New Zealand
- Lifespot’s technologies include medical diagnostic and monitoring technology that allows patients, their family and caregivers to monitor conditions through mobile devices
- Jayex’s Connect platform will also be integrated into the offering
- The companies believe this deal is timely as there is a greater importance on providing remote monitoring capabilities to GPs post-COVID-19
- Lifespot’s shares remain in the grey and are trading for 3.5 cents each while Jayex’s shares are also trading in the grey for 2.5 cents each
Lifespot Health (LSH) has executed a software licence agreement with Jayex Healthcare (JHL) to license its BodyTel software platform.
The agreement also includes the sale of Lifespot’s integrated Bluetooth technology products and services to Jayex.
Lifespot granted Jayex an exclusive licence for the United Kingdom and a non-exclusive licence for Australia and New Zealand, to market and sell BodyTel, Bluetooth products as well as future telehealth products developed during the agreement term.
BodyTel will be integrated into Jayex’s Connect platform to enhance the capacity of over 20,000 GPs in its U.K.-based Connect ecosystem.
“By adding this capability to our market-leading Jayex Connect platform we will have one of the most comprehensive patient management systems available to GPs and respond to the increasing demand for telehealth and remote patient management options,” Jayex CEO Nick Fernando said.
The licence agreement is for an initial five year term, with one additional five year extension option.
Jayex will pay Lifespot a licence fee based on the revenue it generates from the technology, as well as maintenance service fees and development fees.
Lifespot’s BodyTel software platform and Bluetooth technologies include medical diagnostic and monitoring technology as well as digitally-enabled drug delivery systems to combine sensor technology with self-learning algorithms.
It allows patients, their loved ones, and caregivers to monitor chronic diseases and critical conditions just by using their smartphones.
Lifespot and Jayex believe this licence agreement is timely as there is a greater importance placed on providing GP clinics with remote monitoring capabilities post-COVID-19.
Lifespot’s shares remain in the grey and are trading for 3.5 cents each and Jayex’s shares are also trading in the grey for 2.5 cents each at market close.