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Posted On: 04/12/2022 9:08:42 AM
Post# of 38367
LFER nice 8k out after the close yesterday On April 5, 2022, CareClix, Inc., a wholly-owned subsidiary of Registrant, executed a Service Agreement with GlobeMed Limited, a British Virgin Islands corporation operating through its principal offices in Lebanon (“GlobeMed”). The Service Agreement is a SaaS agreement under which GlobeMed will use the CareClix telemedicine software to implement telehealth services to ten countries in the Middle East through its third-party health benefits administration (TPA) system. GlobeMed is the largest TPA in the Middle East region and indicates it currently has approximately 40,000 physicians in its health network in the region.
The Service Agreement will be implemented initially in Kuwait and Qatar and thereafter in stages in Bahrain, Lebanon, Jordan, Iraq, KSA, Egypt and the UAE. Under the terms of the Services Agreement, GlobeMed will compensate CareClix, Inc. on a monthly basis at the rate of $5.00 US for the first 100 physicians using the CareClix software and $25.00 US for each physician in excess of 100. Implementation of the software service and integration with the GlobeMed system has already commenced and the software service has a targeted go-live date of June 1, 2022.
https://www.sec.gov/ix?doc=/Archives/edgar/da...r05-8k.htm
The Service Agreement will be implemented initially in Kuwait and Qatar and thereafter in stages in Bahrain, Lebanon, Jordan, Iraq, KSA, Egypt and the UAE. Under the terms of the Services Agreement, GlobeMed will compensate CareClix, Inc. on a monthly basis at the rate of $5.00 US for the first 100 physicians using the CareClix software and $25.00 US for each physician in excess of 100. Implementation of the software service and integration with the GlobeMed system has already commenced and the software service has a targeted go-live date of June 1, 2022.
https://www.sec.gov/ix?doc=/Archives/edgar/da...r05-8k.htm
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