CALGARY, AB, March 24, 2021 /CNW/ – Health Logic Interactive Inc. (“Health Logic” or the “Company“) (TSX.V: CHIP.H) is excited to announce, through its wholly owned operating subsidiary, My Health Logic Inc. (“My Health Logic”), the signing of a non-binding letter of intent (“LOI“) to acquire a leading digital chronic kidney disease (CKD) risk assessment platform, www.kidneyfailurerisk.com, from Dr. Navdeep Tangri, an arm’s length party. Kidneyfailurerisk.com is used by nephrologists worldwide to predict the risk of CKD in all people, and the rights to develop MyCKDrisk.com (the “Proposed Acquisition“).
Kidneyfailurerisk.com is used globally for risk prediction in the field of nephrology and is accessed by more than 50,000 health care providers annually worldwide. Patients with CKD and providers both trust kidneyfailurerisk.com for accurate information on the risk of dialysis, and it serves as an educational platform to highlight drugs and lifestyle interventions that can reduce the risk. The underlying equations were originally published in the Journal of the American Medical Association (JAMA) in 2011 and validated in more than 30 countries in a subsequent JAMA publication in 2016.
My Health Logic plans to accelerate the growth of the digital platform, enabling the site to act as an online and smartphone connected information hub for education about lifestyle and pharmaceutical interventions for CKD. It is anticipated that Dr. Navdeep Tangri, the current owner of the platform and a global expert in clinical risk prediction for CKD, will be engaged to lead development of kidneyfailurerisk.com and MyCKDRisk.com upon closing of the Proposed Acquisition. Dr. Tangri is a world-renowned researcher in nephrology and risk prediction, and an expert in applying statistical and machine learning methods to prediction problems in kidney disease. He has published more than 250 peer reviewed manuscripts, and is widely recognized as an expert on guideline panels and journal editorial boards.
When asked about this engagement, Dr. Tangri said:
“I am excited to work with the Health Logic team to expand the reach of kidneyfailurerisk.com to patients, and to create a new platform for CKD screening for patients and providers. With new therapies like SGLT2 inhibitors and MRAs, there has never been a better time to expand screening for CKD, and the platforms we will continue to advance will guide screening for patients and payors. We now have the tools to change the trajectory of kidney disease, early in its course, and I believe this collaboration will make it possible.”
Under the LOI, the purchase price is $150,000 payable in common shares of Health Logic Interactive Inc. at $0.10 per share. The Proposed Acquisition is subject to approval of the TSX Venture Exchange (the “Exchange”). The LOI is not binding, and the parties are not bound to complete the Proposed Acquisition on the terms set out herein or at all.
Companies interested in applying to partner with, seek investment from, or be acquired by Health Logic Interactive Inc. may contact us here at [email protected]
About the Company
Health Logic Interactive Inc. plans to develop and commercialize novel technologies through its wholly owned operating subsidiary, My Health Logic Inc. At the present time, the company is not engaged in active business operations. The company intends to acquire and commercialize consumer focused healthcare technologies that address areas of unmet needs, such as chronic disease management through point-of-care diagnostic medical devices that are connected to patient’s smartphones and virtual continued care platforms. However, to date it has not entered into any binding agreements for such acquisitions and there can be no guarantee that the company will be able to successfully identify, negotiate and complete such acquisitions or raise the necessary financings for such acquisitions or for the development of its business should it be able to complete such acquisitions.
Further information regarding Health Logic Interactive Inc. and its disclosure documents are available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward–looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the Proposed Acquisition; and development of kidneyfailurerisk.com and MyCKDrisk.com (collectively and individually, the “Platform“), including the engagement of Dr. Tangri.
These forward–looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the Company being unable to reach a definitive agreement in respect of the Proposed Acquisition on the terms set out in the LOI, if at all; the Company not receiving the necessary regulatory approvals in respect of any of the transactions contemplated herein; the Company being unable to develop the Platform as planned, including being unable to engage Dr. Tangri or another expert to lead development of the Platform; recent market volatility; and the state of the financial markets for the Company’s securities.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the Company will enter into a definitive agreement in respect of the Proposed Acquisition on the terms set out in the LOI; the Company will receive the necessary regulatory approvals in respect of each of the transactions contemplated herein; and the Company will be able to engage Dr. Tangri or another expert to lead development of the Platform and otherwise develop the Platform as planned.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SOURCE Health Logic Interactive Inc.