Thetford Mines, Quebec - TheNewswire - March 10, 2021 - KDA Group Inc. (TSXV:KDA) (“KDA” or the “Corporation”) is proud to announce, as previously disclosed in its press release dated November 18, 2020, that its wholly owned subsidiary, Groupe Technologique KDA Inc. (“Tech KDA”) has entered into an asset purchase and rights assignment agreement (the “Asset Purchase Agreement”) with ZoomMed Médical Inc. (“ZoomMed Médical”) under which Tech KDA agreed to acquire, subject to certain conditions, the ZRx Prescriber and ownership rights, to develop, commercialize and exploit the ZRx Prescriber in the United States, Europe and United Kingdom, in consideration for 20,000,000 Class A shares (the “KDA Shares”) of KDA’s share capital (the “Transaction”).
The ZRx Prescriber is an electronic prescriber computer and mobile software designed and developed by ZoomMed Médical for use by healthcare providers who are authorized to prescribe medications and other treatments.
According to the Asset Purchase Agreement, 10,000,000 of the KDA Shares will be held in escrow and released as follows: 5,000,000 of KDA Shares released on the first anniversary date (12 months) of the closing; and 5,000,000 of KDA Shares released on the second anniversary date (24 months) of the closing.
The closing of the proposed Transaction is scheduled for March 31, 2021 and is subject to the fulfillment of certain conditions including the final approval of the TSX Venture Exchange.
Tech KDA and ZoomMed Médical are arm’s length parties and no finder’s fee is payable in connection with the Transaction.
E-Prescribing or electronic prescribing is a technology substructure that allows physicians and medical practitioners to send computer-based electronically generated prescriptions to a hospital-based or standalone pharmacy. It is also cost-efficient and reduces the chances of medication errors. Increasing emphasis on reduction of drug abuse and fraud, rising initiatives by the government to digitalize healthcare systems, and growing efforts on reducing medication errors are the major factors driving growth. The global E-Prescribing market size was valued at US$ 1.10 billion in 2020 and is anticipated to grow at a compound annual growth rate of 24.10% during forecast period 2021 to 2028 and is expected to hit around US$ 6.05 billion by 2028.1
“As a result of the ongoing due diligence of the ZRx Prescriber and as stated last November, this Transaction will advantageously propel technological healthcare solutions to the vast U.S., European and United Kingdom markets. The expertise of KDA’s management and more specifically its subsidiary team, LIV Agency Inc., will definitely be a key strategic element complementary to our success,” explained Sylvain Duvernay, Chief Executive Officer of KDA.
“The mission of our subsidiaries is to provide excellence at all times through the distribution of educational programs and communications in the medical field, from the development to the implementation of strategies offered to large pharmaceutical companies to improve patient health. With the ZRx technology platform, we will be able to expand our service offerings to healthcare professionals and patients across the vast U.S., European and United Kingdom markets,” added Mr. Duvernay.
ABOUT KDA GROUP
KDA Group is a leading innovation and specialized solution provider in the pharmaceutical market. Today, it is a respected name for quality and expertise among the different stakeholders in the pharmaceutical and medical sector. Its management team is guided by a vision of continuing to lead the way in Quebec while extending operations across Canada and internationally. Additional information on the Corporation is available at www.kdagroup.ca and on SEDAR at www.sedar.com.
REFERENCE
1-Vision Research Reports
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CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release from KDA Group contains forward-looking statements. Forward-looking statements are typically identified by the words assumption, goal, guidance, objective, outlook, strategy, target, and other similar expressions, or future or conditional verbs such as aim, anticipate, believe, predict, could, expect, intend, may, plan, seek, should, strive, and will. By their nature, forward-looking statements require us to make estimates and assumptions and express opinions based on current conditions and anticipated developments, as well as other factors that Management may deem appropriate under the circumstances. There is inherent uncertainty and significant risk in these estimates, assumptions, and opinions, particularly of a commercial, economic, and competitive nature, and they are therefore subject to change. KDA Group cannot guarantee that these estimates, assumptions, and opinions will prove to be accurate.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
INFORMATION
Sylvain Duvernay
Chief Executive Officer
514 622-7370
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