Current Report No: 18/2024
Date: 20.08.2024 r.
Legal Basis: Article 17, Section 1 of the MAR Regulation – Confidential Information
The Management of Medicalgorithmics S.A., based in Warsaw the “Company”, announces that in reference to the Company’s current report No. 3/2024, on August 20, 2024, the Company received USD 0.6 million approx. 2.3 million PLN from the React Group from Medi-Lynx Cardiac Monitoring, LLC, “Medi Lynx” as a price adjustment for the sale of shares in Medi-Lynx, in accordance with the provisions of the share sale agreement for Medi-Lynx _terms described, among others, in current reports No. 47/2022 and No. 3/2024. This amount increases the cash resources of Medicalgorithmics and will be recognized as financial income in the third quarter of 2024.
These increased financial resources of the Company, related to the described price adjustment, along with the additionally available loan facility of up to USD 3 million from the main shareholder, Biofund Capital Management LLC _as per current report No. 16/2024, secure the Company’s cash needs for the implementation of its strategy.