DynoSense Corp Announces Commercial Agreement With Advent-AWI Holdings Inc.
SAN JOSE, Calif., June 17, 2020 (Newswire.com) - DynoSense Corp. announced today it that entered into a commercial agreement with Advent Holdings Inc., a Canadian-based company listed on TSX Venture Exchange, pursuant to which Advent, through a wholly owned Hong Kong subsidiary, will sell and distribute DynoSense’s products and services in Hong Kong and Macau under a license granted to it by DynoSense. Under the terms of the commercial agreement, Advent will pay $1 million CAD to DynoSense on or before June 30, 2020, half of which constitutes the advance payment for inventory of certain products. The initial term of the commercial agreement will be five years and may be renewed for an additional five one-year terms thereafter, subject to certain revenue targets being met at the time of each renewal. The commercial agreement is subject to acceptance by the TSX Venture Exchange.
DynoSense deploys smart AI-powered software tools, connected FDA cleared devices, personalized digital planning, HIPAA compliant platform, and 24/7/365 care support to make it easy for physicians to adopt Remote Patient Monitoring (RPM), Chronic Care Management (CCM) and Telecare in their practice to improve care and increase revenue. Its comprehensive solution has already been recognized by leading physicians who also love the deployment simplicity of its proven business model.
Alice Chiu, president and CEO of Advent, stated: "We believe that this opportunity will strategically build on Advent's current mobile and Internet business by expanding into the digital health industry, which we felt is showing its tremendous growth opportunities in the post-COVID-19 pandemic crisis."
“I am delighted by the prospect of expanding our revenue further into Asia, and later Canada, through this agreement with Advent,” said Saeed Azimi, Founder and Chief Executive Officer of DynoSense Corp. “Alice and her team share our vision and passion for better health through better care.”
“DynoSense has built outstanding technologies and capabilities for addressing the large market for remote care assessment and management,” said Paul Chau, Senior Partner of WI Harper Group, member of the board and a major early lead investor in DynoSense.
DynoSense's solution has a market size exceeding $50B dollars, spanning multiple segments including elderly healthcare, remote chronic care, hospital discharge management, contract research organizations (CROs), and consumer health and wellness.
In this post-COVID-19 era, “A new era of cloud-based remote health monitoring and analysis systems is upon us,” said Lee Winters, MD. “This will radically change the practice of medicine in and usher new ways of caring for patients, especially those in outlying and rural locations.”
“41 Million deaths globally each year are caused by non-communicable diseases (NCDs), contributing 71% of all deaths globally. However, most of these diseases are preventable with innovative quality care that empowers individuals while connecting them with the right support,” said Dr. Peter Yan, Medical Director and Co-Founder WL&H, Cardiologist and Physician, MBBS (Singapore), M.Med (Int Med), FAMS (Cardiology).
About Advent Holdings Inc.:
Advent-AWI Holdings Inc., incorporated in 1984 and based in Vancouver, Canada, is listed on the TSX Venture Exchange (Symbol: AWI.V) together with its subsidiaries and provides cellular and wireless products, services, and accessories in Canada. The company operates through two segments, Wireless Business and Financing Business. The Wireless Business segment offers wireless voice and data, high-speed internet, digital cable television, home phone, smart home monitoring, and Rogers Bank Mastercard products. The Financing Business segment provides personal and collateral loans across the Greater Vancouver and Greater Toronto Areas.
About WI Harper Group:
Founded in 1993 by Peter Liu, WI Harper is a pioneering cross-border venture capital firm investing in early to growth-stage companies across the U.S., Greater China, and Asia-Pacific with more than 400 companies in the fields of healthcare, biotech, artificial intelligence, robotics, fintech, sustainability, and new media. WI Harper is actively overseeing more than $1 billion in assets under management with 100-plus successful IPO and M&A exits. Three offices in San Francisco, Beijing, and Taipei allow their stellar team of experts to identify and capitalize on opportunities both in the U.S. and Asia.
DynoSense is a growing global startup founded in Silicon Valley USA with a division in Nanjing, China, a technological innovator with the objective to improve and enable personalization, prediction, prevention, and participatory health & wellness through augmenting personalized care with Digital Therapeutics. This sophisticated AI-powered health management solutions, called Health Relationship Management Solution (HRMS) is comprised of patented tools such as a clinically validated, FDA-cleared vital sign measurement system and physiological and behavioral health assessment system to deliver better clinical and financial outcomes while creating a better experience for participating members.
For more information on DynoSense and its products, please visit: www.dynosense.com.
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Source: DynoSense Corp.