SINGAPORE, Sept. 21, 2020 (GLOBE NEWSWIRE) — Singapore-based Claritas HealthTech Pte. Ltd. (“Claritas”) and Labrador Technologies Inc. (“Labrador”) have entered into an exclusive arm’s length software license purchase agreement dated June 28, 2020.
Pursuant to the terms of the Agreement, Labrador will issue sufficient shares such that the Proposed Transaction will constitute a Reverse Takeover (“RTO”) of Labrador under the policies of the TSX Venture Exchange (the “Exchange” or the “TSXV”). Upon the closing of the Proposed Transaction, it is expected that Labrador will continue to be a Technology Issuer on the TSXV and will be renamed as Claritas HealthTech Inc.
“With our iRAD platform successfully tested and continuing to be deployed across Asia, the next natural step is for Claritas to establish a presence in North America on account of the size and requirements of its medical imaging market. The completion of the RTO will allow for the rapid deployment of our technology across North America thereby furthering our mission to enable physicians globally to make more informed diagnostic decisions for the betterment of patients,” commented Devika Dutt, Co-founder and COO of Claritas.
Claritas is actively looking for potential takeover candidates in the telemedicine and virtual healthcare sectors, both in the regional and North American markets. Besides the medical image processing and enhancement product iRAD, the company will soon be releasing several AI tools that will help clinicians in rapid and accurate detection of abnormalities.
“Our aim is to become a fully integrated digital health company by providing a platform that serves both the healthcare providers and their patients in a meaningful way. The COVID-19 pandemic has changed how business operates especially when operating in the digital healthcare space. Gaining market share is one of the top priorities, however, our focus is to achieve this while maintaining profitability.”
About Claritas HealthTech Pte. Ltd.
Claritas is incorporated and headquartered in Singapore. Claritas conducts research and development in the fields of image enhancement, machine vision and artificial intelligence (“AI”) with a focus on medical image processing and AI assisted interpretation. Claritas aims to transform the diagnostics industry with powerful and effective software products created using image enhancement and AI technology enabling doctors and physicians to make accurate diagnosis and improve patient lives.
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