https://www.sec.gov/Archives/edgar/data/1059784/00
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Posted On: 08/31/2020 1:56:20 PM
https://www.sec.gov/Archives/edgar/data/10597...form8k.htm
Item 1.01 Entry into a Material Definitive Agreement.
On August 25, 2020, Generex Biotechnology Corporation’s wholly owned subsidiary NuGenerex Health LLC entered into a strategic joint venture with Worldwide Digitech, LLC (“WWDT”) by signing an Operating Agreement to form NuGenHealth LLC (the “Agreement”). Under the Agreement profits shall be distributed equally; 50% to NuGenerex Health LLC and 50% to WWDT.
WWDT will provide the software powered by the HealthKOS framework and back-end support for the NuGenHealth SaaS system, while NuGenerex Health LLC shall be responsible for the day to day management and oversight of business operations along with operating capital totaling approximately $1,500,000.00.
The goals of NuGenHealth are to provide connected care solutions for patient engagement, Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) to physicians, hospitals, and other providers of patient care, and to improve patient health outcomes at reduced costs.
This Current Report contains summaries of the material terms of the Agreement. The summary of the Agreement contained in this Current Report is subject to, and is qualified in its entirety by, reference to the Agreement, which is filed as an exhibit hereto and incorporated herein by reference.
A copy of the Agreement signed August 25, 2020, is filed as Exhibit 99.1 to this report.
On August 26, 2020, Generex issued a press release announcing the Agreement with WWDT as described above, a copy of which is filed as Exhibit 99.2 to this report.
Item 1.01 Entry into a Material Definitive Agreement.
On August 25, 2020, Generex Biotechnology Corporation’s wholly owned subsidiary NuGenerex Health LLC entered into a strategic joint venture with Worldwide Digitech, LLC (“WWDT”) by signing an Operating Agreement to form NuGenHealth LLC (the “Agreement”). Under the Agreement profits shall be distributed equally; 50% to NuGenerex Health LLC and 50% to WWDT.
WWDT will provide the software powered by the HealthKOS framework and back-end support for the NuGenHealth SaaS system, while NuGenerex Health LLC shall be responsible for the day to day management and oversight of business operations along with operating capital totaling approximately $1,500,000.00.
The goals of NuGenHealth are to provide connected care solutions for patient engagement, Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) to physicians, hospitals, and other providers of patient care, and to improve patient health outcomes at reduced costs.
This Current Report contains summaries of the material terms of the Agreement. The summary of the Agreement contained in this Current Report is subject to, and is qualified in its entirety by, reference to the Agreement, which is filed as an exhibit hereto and incorporated herein by reference.
A copy of the Agreement signed August 25, 2020, is filed as Exhibit 99.1 to this report.
On August 26, 2020, Generex issued a press release announcing the Agreement with WWDT as described above, a copy of which is filed as Exhibit 99.2 to this report.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
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