Aussie medtech company ResApp Health (ResApp) recently announced news of its sale to Pfizer Australia, a wholly-owned subsidiary of global biopharmaceutical company Pfizer Inc. The proposed acquisition will mean that Pfizer will acquire 100% of the shares in ResApp (by way of a Scheme of Arrangement) for A$0.115 per share in cash, representing a total equity value of approximately A$100 million.
You may recall from a previous article we shared in 2020, ResApp is a Brisbane-based innovator and their cutting edge app was developed to analyse the sound and features of coughs to diagnose acute respiratory disease. ResApp’s easy to use, clinically-validated diagnostic tools only require a smartphone, removing some of the complexities associated with traditional diagnosis which can be a subjective process. MBIP has worked with ResApp for several years and has helped with drafting patent applications and progressing them through examination internationally.
ResApp has had a busy year actively entering into a number of partnerships to expand its mobile diagnostic app globally. In January, the ResAppDx went live on Alodokter in Indonesia and also entered into a three-year deal with telehealth startup Homify from the Philippines (to launch middle of the year).
ResApp also signed a three-year distribution agreement with US-based Sanrai International to bring ResAppDx to emerging countries. The contract covers Africa, the Middle East, South America, South Asia, Central America and the Caribbean.
Here in Australia, ResApp is already live on platform Doctors on Demand in Australia, and later in 2022, will go live on Health Teams, a digital aged care monitoring platform.
Pfizer and ResApp will also enter a Research & Development License Agreement to collaborate on products in the field of COVID-19.
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