August 20, 2017 4:54 AM ET

Health Care Technology

Company Overview of G Medical Innovations Holdings Limited

Company Overview

G Medical Innovations Holdings Limited focuses on developing mobile health technologies. It intends to offer mobile and e-health solutions and services through its suite of devices and software solutions. The company develops Smartphone G Medical Jacket, a plug and play cover that transforms a smartphone into a medical monitoring device; and Wireless Vital Signs Monitoring System that provides continuous and real-time monitoring of a range of vital signs and biometrics. The company was founded in 2014 and is based in George Town, Cayman Islands.

Willow House

PO Box 10008

Cricket Square

George Town,  KY1-1001

Cayman Islands

Founded in 2014

Key Executives for G Medical Innovations Holdings Limited

Chief Executive Officer, President and Executive Director
Age: 67
Total Annual Compensation: A$480.0K
Chief Financial Officer
Total Annual Compensation: A$160.0K
Chief Operating Officer
Total Annual Compensation: A$160.0K
Chief Technology Officer and Vice President of Research & Development
Total Annual Compensation: A$160.0K
Executive Vice President of Sales and Business Development - IDTF/Hospitals
Total Annual Compensation: A$80.0K
Compensation as of Fiscal Year 2015.

G Medical Innovations Holdings Limited Key Developments

G Medical Innovations Holdings Limited Signs China Joint Venture Agreement with Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP)

G Medical Innovations Holdings Ltd. announced it has signed a Joint Venture Agreement with Guangzhou Sino-Israel Bio-Industry Investment Fund (LLP). The Agreement is for the creation of a jointly owned Chinese subsidiary, Guangzhou G Medical Innovations Medical Technology Ltd. to provide G Medical's products and services into the Chinese market. G Medical has agreed that all of its operations within the People's Republic of China, Hong Kong and Macau shall be directed exclusively through the Chinese Subsidiary. The Agreement is in accordance with an initial Term Sheet the parties entered into on 30 October 2016 and outlined in the company's Replacement Prospectus dated 14 March 2017. Pursuant to the Agreement, Guangzhou G Medical Innovations Medical Technology Ltd. will be granted an exclusive license for the use and sub license of all of G Medical's intellectual property and products in the Chinese Territory. GIBF has agreed to invest $5 million in the Chinese Subsidiary for a 30% fully diluted equity interest. G Medical will retain a 70% interest. The $5 million is expected to be received on or around 18 June 2017 and will be deposited into the JV bank account of the company. The board of Guangzhou G Medical Innovations Medical Technology Ltd. is to be comprised of up to 7 members, with 3 members appointed by GIBF and 4 appointed by G Medical, and a general manager appointed by G Medical. GIBF shall use best commercial efforts to facilitate for the Chinese Subsidiary, directly or from government funding, additional financing in the amount of $10 million by way of grants or loans and GIBF will have a right, in its sole discretion, to list the Guangzhou G Medical Innovations Medical Technology Ltd., provided that the listing must value Guangzhou G Medical Innovations Medical Technology Ltd. at no less than $50 million.

G Medical Innovations Holdings Ltd Enters Distribution Agreement with Beijing SilverLake Investment Co., Ltd for Smartphone Cover in China

G Medical Innovations Holdings Ltd. announced it has agreed the primary terms pursuant to its distribution and co-operation agreement with its Chinese distribution partner, Beijing SilverLake Investment Co. Ltd. The agreement is for the distribution of the G Medical Smartphone cover in the People's Republic of China. On 22 February 2017, the company entered into the Agreement with SilverLake to establish the key terms and conditions for a contemplated distribution agreement for the Company's products in the People's Republic of China. Pursuant to the terms of the Agreement, SilverLake agreed to purchase a minimum quantity of the company Smartphone Cover and associated services over a 5 year period. The minimum quantities of Smartphone Covers to be purchased by SilverLake have now been agreed and represent an increase of around 20% on the initial indications in the Agreement.

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