Item 1.01 Entry into a Material Definitive Agreement.
On September 24, 2020, NuGenHealth, LLC, (“NuGenHealth”), a subsidiary of Generex Biotechnology Corporation, signed a services agreement with Paradise Valley Family Medicine, P.C. an Arizona professional corporation (“PVFM”) to provide a software and services solution for patient engagement, Remote Patient Monitoring (RPM) and Chronic Care Management (CCM) services that are recommended and reimbursed by the Centers of Medicare and Medicaid Services (CMS) (the “Agreement”).
Under the terms of the Agreement, NuGenHealth will implement the company’s software system and connected metabolic monitoring devices, and will provide RPM and CCM services to Medicare patients with chronic medical conditions who are under the care of PVFM physicians. PVFM will bill CMS for the RPM and CCM services, and will pay software and service fees to NuGenHealth.
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 September 24, 2020, is filed as Exhibit 99.1 to this Current Report.
On September 25, 2020, Generex issued a press release announcing the Agreement with PVFM as described above, a copy of which is filed as Exhibit 99.2 to this Current Report.
About NuGenHealth, LLC
NuGenHealth, LLC is an Arizona Limited Liability Company, a subsidiary of Generex Biotechnology Corporation, a publicly traded company, and is engaged to provide a software and services solution for physicians and medical practices for the purpose of providing the Connected Care Solutions for patient engagement and more specifically, Remote Patient Monitoring and Chronic Care Management.
About Paradise Valley Family Medicine, P.C.
Paradise Valley Family Medicine (“PVFM”) is an established family practice located in Phoenix and Scottsdale Arizona. Family practice is the medical specialty which is concerned with the total health care of the individual and family. The scope of family practice is not limited by age, gender, or disease. PVFM’s medical care consists of preventive and acute care for adults and children. PVFM realizes the importance of the health care provider and patient working together as a team to assure the most effective health care possible. Because PVFM physician’s objective is the patient’s optimum health, referrals to specialists will be made when necessary. PVFM providers are able to provide patients with physical exams including well-woman exams and well-child care. PVFM also provides minor surgical procedures such as mole and cyst removals, and biopsies. The family physicians of Paradise Valley Family Medicine are certified by the American Board of Family Practice and the nurse practitioners by the American Nurses Credentialing Center.
1
