Logiq, Inc. Acquires EVIMATE, Heralding a New Era in Medical Device Innovation
NEW YORK, NY / ACCESSWIRE / October 8, 2024 / Logiq, Inc. (OTC PINK:LGIQ) ("Logiq" or "the Company") proudly announces the definitive agreement to acquire EVIMATE ("EVIMATE"), a pioneer in medical device innovation. This acquisition, valued at $5 million, marks a significant milestone as Logiq diversifies into the medical device.s sector.
EVIMATE: Efficient in Hospitals, Comfortable at Home and Driver Seat
EVIMATE's cutting-edge suite of vital sign products leverage advanced AI technology to provide comprehensive monitoring and predictive analytics across key health metrics. The solution combines next-generation devices with a user-friendly app to ensure continuous, accurate monitoring of temperature, heart rate, ECG, blood pressure, oxygen levels, and glucose levels. Designed to meet Remote Patient Monitoring (RPM) standards, it offers real-time insights and alerts to healthcare providers, caregivers, and family members, enhancing patient safety and care. In addition, EVIMATE developed advanced automotive healthcare system to monitor driver/ pilot vitals. Among many contactless systems provided by EVIMATE the set of fifteen preinstalled sensors in driver's seat assisted by nine steering embedded wheel mounted sensors, help to collect additional vital signs like monitoring the heart functions, HR, HRV, respiratory rate, stress level, blood oxygen level (steering wheel add-on capable of detecting Hypoxemia) and more. See video: https://www.youtube.com/watch?v=AmzxZb3WJi0
All devices described herein will have to go through FDA regulatory approvals and additional patents will have to be filed for IP protection. See video of our devices: https://vimeo.com/859865937/43efc178ad
About the Transaction:
Logiq will acquire EVIMATE through a share exchange and providing of working capital, issuing new Logiq shares for 100% of EVIMATE's shareholder interests. EVIMATE will integrate as a wholly owned subsidiary of Logiq, with key EVIMATE executives joining the senior management team.
CFO Adam Yang on the Acquisition:
"This union with EVIMATE propels us into the lucrative medical devices domain, enabling the development of groundbreaking treatments and enhancing our market presence," stated Adam Yang, CFO of Logiq.
Anticipated Outcomes:
Capital Raise: The combined entity plans to secure a significant capital infusion in line with the transaction.
Uplisting Goals: Logiq plans to transition from OTC Markets to a Nasdaq or NYSE listing by Q1 2025, enhancing its market presence and investor appeal.
Additional Acquisitions: Targeting six additional strategic acquisitions, which are currently in process, to provide a path to significant revenues by mid-2025.
New Direction for Logiq:
Founded in November 2004, Logiq has transitioned from e-commerce solutions to targeting the medical field, specifically cell and gene therapy, longevity, anti-aging, and rejuvenation. Post-acquisitions, Logiq will be managed by executives and R&D scientific staff with decades of experience.
Business Model:
Drug Development: Focusing on innovative therapies to address unmet medical needs.
Medical Devices/Remote Monitoring: Harnessing technology to enhance patient outcomes.
Rare Diseases: Exploring new frontiers in treatment for the most challenging conditions.
Strategic Partnerships: Collaborating with industry leaders to accelerate progress.
Sales & Marketing Support: Providing comprehensive backing to ensure success in competitive markets.
Human Resources Development: Cultivating a dynamic workforce.
Longevity Treatments:
Logiq embraces longevity medicine, utilizing advanced AI to decode the science of aging, offering treatments that add years to life and life to years.
Cell and Gene Therapy:
Logiq's commitment extends to revolutionary cell and gene therapies that modify or replace genetic material to combat diseases at their root, promising lasting cures.
Strategic Partnerships and Equity Stakes:
Logiq's strategic partnerships foster mutual growth and innovation, engaging with clients and organizations to:
Collaborate on Research: Enhance collective R&D capabilities.
Share Technological Resources: Utilize AI tools to improve efficiency and outcomes.
Acquire Stakes: Consider acquiring minority stakes in partners' infrastructure.
Offer Equity Stakes: Create symbiotic relationships driving forward health innovation.
About EVIMATE:
EVIMATE's cutting-edge suite of vital sign products leverage advanced AI technology to provide comprehensive monitoring and predictive analytics across key health metrics. The solution combines next-generation devices with a user-friendly app to ensure continuous, accurate monitoring of temperature, heart rate, ECG, blood pressure, oxygen levels, and glucose levels.
The transaction is slated for completion by October 7, 2024, subject to standard closing conditions.
About Logiq:
Logiq Inc., headquartered in the United States, revolutionizes e-commerce and digital customer acquisition by streamlining digital advertising. The company offers comprehensive, data-driven marketing solutions and software to engage customers across various channels.
Important Cautions Regarding Forward-Looking Statements:
This press release contains forward-looking statements and information, subject to the Safe Harbor created by Sections 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements involve estimates, assumptions, and uncertainties that could cause actual results to differ materially from those expressed. No assurance can be given that these expectations will prove correct, and such forward-looking statements should not be unduly relied upon.
