Careteq Limited (ASX: CTQ, “Careteq”) is pleased to announce that it has signed a collaboration agreement with LinQ Corporate Pty Ltd, part of the LinQ Group (LinQ), an established investment banking and corporate advisory group, that will provide the Careteq additional resources to fast-track its growth program and identify new opportunities worldwide.
Under the non-exclusive engagement, LinQ will assist Careteq in securing strategic partnerships, as well as identifying additional technologies and products that will complement the Group’s suite of Assistive Living Technology solutions.
LinQ, which has key relationships across the USA, Europe, Israel and Australia, will seek out potential partnerships as well as merger and acquisition opportunities for Careteq’s consideration, when appropriate, to fast-track platform subscription growth and unlock shareholder value.
Careteq will issue two million, three-year options with a strike price of $0.20 to LinQ as part of the engagement and a possible success fee may be payable upon the completion of a successful transaction. The possible success fee is not considered to be material.
This announcement has been approved by the Board of Directors.
About Careteq Limited
Careteq is an Australian-headquartered health-tech company that has developed and commercialised a suite of products that sit on its proprietary SaaS-based Assistive Living Technology platform for use by the elderly, disabled and vulnerable individuals. Its products and services, which improve outcomes for patients and their carers while increasing productivity, are sold in Australia and internationally through industry leading distributors and specialist retailers. Careteq generates revenues from recurring platform subscriptions, contracted medication management services and sales of its innovated range of sensors and devices that detect falls or unusual behaviour, monitor patient health, provides SOS emergency call functionality and deliver medication reminders. Careteq is using its earlymover advantage in the Assistive Living Technology sector to revolutionise aged and disability care. For more information about Careteq, visit https://www.careteq.com.au/.
This announcement contains or may contain forward-looking statements that are based on Careteq’s beliefs, assumptions and expectations and on information currently available to Careteq.
All statements that address operating performance, events or developments that Careteq or its directors expect or anticipate will occur in the future are forward-looking statements, including, without limitation, statements as to the expectations of Careteq or the market it operates in.
Careteq believes that these forward-looking statements are reasonable as and when made. You should not place undue reliance on forward-looking statements because they speak only as of the date when made. Careteq does not assume any obligation to publicly update or revise any forwardlooking statements, whether as a result of new information, future events or otherwise. No assurance or guarantee is, or should be taken to be, given in relation to, and no reliance should be placed on, the future business performance or results of Careteq or the likelihood that the current assumptions, estimates or outcomes will be achieved. Actual results, developments or events could differ materially from those disclosed in the forward-looking statements.