Welby Healthcare Solutions plans share issue to TISI for health-data partnership
The planned investment would give TISI a 34.01% stake in the Welby subsidiary through newly issued shares.
Welby Healthcare Solutions has approved a third-party allotment of 1,103 shares to TISI. The investment amount was not disclosed. The boards and shareholders approved the proposal on 20 October, with the partnership agreement scheduled for signing on 23 October.
The companies plan to combine personal health record services, develop products and pursue joint sales to municipalities and medical institutions. Welby and its subsidiary bring experience supporting health self-management, while TISI contributes links with hospitals and local authorities through its Healthcare Passport service.
The subsidiary would remain consolidated within Welby after the issue. The arrangement builds on a health-record partnership announced in February and is intended to expand local medical-care networks and services for lifestyle-related conditions.
Use of funds
Develop personal health record services
Expand municipal and medical institution partnerships