Current Report No.: 18/2024Notificationof the receipt by Medicalgorithmics S.A. of USD 0.6 million from theReact Group as a price adjustment for the sale of Medi-LynxDate:August 20, 2024Legal basis: Article 17(1) of the MARRegulation - confidential information
The Management of Medicalgorithmics S.A., based inWarsaw (the "Company"), announces that in reference to the Company'scurrent report No. 3/2024, on August 20, 2024, the Company received USD0.6 million (approx. 2.3 million PLN) from the React Group (fromMedi-Lynx Cardiac Monitoring, LLC, "Medi-Lynx") as a price adjustmentfor the sale of shares in Medi-Lynx, in accordance with the provisionsof the share sale agreement for Medi-Lynx (terms described, amongothers, in current reports No. 47/2022 and No. 3/2024).
This amount increases the cash resources ofMedicalgorithmics and will be recognized as financial income in thethird quarter of 2024.
These increased financial resources of the Company,related to the described price adjustment, along with the additionallyavailable loan facility of up to USD 3 million from the mainshareholder, Biofund Capital Management LLC (as per current report No.16/2024), secure the Company's cash needs for the implementation of itsstrategy.