Advanced Human Imaging Limited (ASX: AHI) (NASDAQ:AHI) is pleased to update shareholders of the completion of the Master Services Agreement (“MSA”) with digital health provider Activate Health OÃœ (“Activate”).
The parties have executed the standard AHI MSA which entails the legal and contractual terms in which AHI agrees to grant Activate the right to use AHI’s licensed Software Development Kits (SDKs) for IOS and Android platforms for body circumference measurements, face scan measurements and related intellectual property once integrated into the Activate digital therapeutics (DTx) platform.
The MSA incorporates the following information and guidelines: commercial undertakings, software development kit, end-user license, technology support, data processing agreement, fee schedule and professional services, including implementation support and training services, which are to be provided by AHI within the agreement with Activate.
The initial term of the MSA is for two years from commencement and will automatically extend for subsequent consecutive periods each of equivalent length to the initial term. Early termination procedures are included for either party to the MSA.
The pricing mechanism in the MSA is based on either single scans or bulk purchase of scans. Under the terms of the agreement, Activate will purchase a block of 4,000 FaceScans and a block of 4,000 BodyScans for EUR€22,960, to be paid in two scheduled payments between now and the end of 2022.
Activate has built a digital therapeutics (DTx) platform for the prevention and early intervention of metabolic syndrome, a silent epidemic that affects nearly a third of the world’s adult population. Their evidence-based Software as a Medical Device will provide both patients and specialists with the necessary tools to control and reverse metabolic dysfunction in order to delay the onset of chronic diseases, such as cardiovascular disease and type 2 diabetes.
Integration of the AHI solution is completed and will be launch in the Netherlands in the coming weeks. An update to the market will be provided once the product is launched by Activate.