Fintech
Datametrex Announces Acquisition of Imagine Health Centres
Toronto, Ontario–(Newsfile Corp. – November 30, 2022) – Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the “Company” or “Datametrex”) is pleased to announce that it has completed the acquisition of Imagine Health Medical Clinics Ltd., Imagine Health Pharmacies & Research Ltd. and Imagine Health Physio Ltd., (collectively “Imagine Health”), an arm’s length, Alberta based private health company consisting of integrated medical centres, pharmacies, and ancillary services.
The acquisition of Imagine Health was completed by way of a share purchase agreement dated November 29, 2022, between the Company, Imagine Health, and the shareholders of Imagine Health (the “Share Purchase Agreement“), pursuant to which the Company acquired all of the issued and outstanding shares of Imagine Health corporate entities for two sites in Alberta (one in Calgary and one in Edmonton) for an aggregate purchase price of $2,600,000 satisfied by: cash payment of $1,300,000; this issuance of 5,000,000 common shares of the Company (the “Consideration Shares”) at a deemed price of $0.10 per Consideration Share, and the issuance of a secured vendor take-back note with a principal amount of $800,000 payable in installments of 6, 12 and 18 months from the date of issuance (the “Note“). The Note is secured by the assets of Imagine Health. In addition, the Share Purchase Agreement includes a covenant of Datametrex to expand Imagine Health by way of working and growth capital contribution of up to $1,000,000 to Imagine Health over a period of twelve (12) months from the date of the acquisition.
As a result of the acquisition, the Imagine Health entities are now wholly-owned subsidiaries of Datametrex. Imagine Health co-founder, Dr. Jonathan Chan will act as Chief Operating Officer of Imagine Health Medical Clinics Ltd. and Imagine Health Physio Ltd. Imagine Health co-founder, Mr. Ray Yue will act as Chief Operating Officer of Imagine Health Pharmacies & Research Ltd. ensuring the continuity of growth and leadership of Imagine Health.
Highlights of Transaction:
The acquisition of Imagine Health solidifies Datametrex’s focus and strategy in the healthcare industry. The healthcare strategy provides significant growth potential in a non-volatile industry for the Company and its shareholders. According to the Canadian Institute for Health Information, the total gross clinical payments to physicians reached $29.4 billion in 2019-2020, a 4.3% increase over the previous year. (Source: https://www.cihi.ca/en/a-profile-of-physicians-in-canada-2020)
According to IBIS World, the market size of the Pharmacies & Drug Stores industry in Canada is $50.4bn in 2022. (Source: https://www.ibisworld.com/canada/market-size/pharmacies-drug-stores/)
The size and scope of both industries represent a significant opportunity for the Company. Imagine Health Centres developed proprietary processes that maximize patient experiences while improving health outcomes. The Company is excited about growing Imagine Health Centres and duplicating these processes and procedures across Canada.
Imagine Health Centres have been operating for over five years in Calgary and Edmonton. The centres had a strong client base with gross revenue from operations last year of approximately $5 million. The gross profit margins have been strong, ranging from 40-45% over the past three years. The location in downtown Calgary is strategically located at Bow Valley College Campus, which has been experiencing growth in the number of patients.
This acquisition provides Datametrex with a turnkey opportunity for a fully operational health clinic business, which integrates with the Company’s other medical initiatives in telehealth, Medi-Call Inc. The Company has plans to expand additional Imagine Health Centres across Canada with an immediate focus on B.C. and Ontario. Each centre is a fully equipped medical clinic with a volume of patients and is fully staffed with a diverse team of physicians, nurses, physiotherapists, chiropractors, pharmacists, massage therapists and other allied health team members. Imagine Health is multidisciplinary and incorporates a wide range of medical services under one clinic.
In connection with the acquisition, the Company paid a cash consulting fee of $104,000 to 1912166 Alberta Ltd., an arm’s length party. Issuance of the Consideration Shares and payment of consulting fee are subject to the final approval of the TSX Venture Exchange (“TSXV”).
The acquisition of Imagine Health does not constitute a fundamental change or result in a change of business for the Company, nor is it expected to result in a change of control of the Company within the meaning of applicable securities laws and defined in the policies of the TSXV.
The Imagine Health Centres Acquired:
- Imagine Health Centre – Edmonton
The Edmonton location has been operating since 2012 providing a wide range of services to patients with their team of family physicians, specialists, physiotherapist, pharmacist, cosmetic services, and other allied health professionals dedicated to a collaborative approach to healthcare requirements. Physicians at this centre are accepting new patients, have same-day appointments available and welcome both scheduled and walk-in patients.
To learn more, please visit: https://www.imaginehealthcentres.ca/medical-clinics/edmonton-south/
- Imagine Health Centre – Calgary
This location is conveniently located in downtown Calgary at Bow Valley College and has a partnership with the College to provide primary care and health services to its students, faculty and staff and the surrounding public community.
To learn more, please visit: https://www.imaginehealthcentres.ca/location/calgary-downtown/
“Imagine Health offers collaborative, multidisciplinary health services to ensure our patients receive quality, accessible healthcare from our expert clinical teams. Our facilities are designed to foster collaboration amongst our physicians, pharmacists, and other allied health professionals – all working together to care for our patients. We look forward to working with Datametrex to help expand our medical and healthcare services to more communities”, said Ray Yue, Co-Founder and Director of Pharmacy of Imagine Health
“Our vision for Imagine Health is to be a leader in exceptional healthcare. We strive to provide innovative primary care services using multidisciplinary teams that are dedicated to improved patient outcomes. We are happy to be in partnership with Datametrex to help grow our initiatives”, said Dr. Jonathan Chan, Co-Founder and Medical Director of Imagine Health.
“What’s great about this deal is that Imagine Health is an already established business with a patient roster, doctors and medical staff that have been helping Canadians improve their health. This aligns with our telehealth business, Medi-Call, that we will adapt into this new partnership. With plans to expand Imagine Health to Vancouver and Toronto, Datametrex is excited to advance deeper into the medical and health industry and can expect fantastic returns”, said Marshall Gunter, CEO of the Company.
About Imagine Health
Imagine Health Centres is a multidisciplinary medical centre fully staffed with a selection of medical doctors, nurses, and other licensed healthcare practitioners. Their multidisciplinary approach to healthcare incorporates the expertise of a range of specialists all in one clinic. This means patients can come to one centre for all their medical needs such as primary care, pharmacy services, physiotherapy and more. Patient’s medical outcomes greatly improve when they have access to an abundance of medical services and tools. Imagine Health Centres prides itself in being at the forefront of the medical clinic industry by being an innovator and provider of a wide range of high-quality healthcare services.
To learn more about Imagine Health, please visit: www.imaginehealthcentres.ca
About Datametrex
Datametrex AI Limited is a technology-focused company with exposure to artificial intelligence, machine learning, telehealth and has recently entered the electric vehicle (EV) market. Datametrex’s mission is to provide tools and solutions that support companies in fulfilling their operational goals, including health and safety, with predictive and preventive technologies. By working with companies to set a new standard of protocols through artificial intelligence and health diagnostics, the Company provides progressive solutions to support the supply chain.
For additional information on Datametrex and other corporate information, please visit the Company’s website at www.datametrex.com.
To learn more about how our AI is used in Cyber Security, Telehealth and EV, visit: https://www.youtube.com/watch?v=ApFk3sWAXtg.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Email: [email protected]
Tel: 416-901-5611 x 204
Marshall Gunter, CEO
Email: [email protected]
Tel: 514-295-2300
Neither 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 release.
Forward Looking Statements
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements, including statements regarding the acquisition of Imagine Health. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
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The fintech landscape continues to evolve with groundbreaking developments reshaping the industry’s global footprint. Today’s briefing dives into key events across the fintech ecosystem, emphasizing regulatory advancements, regional expansion, investment inflows, and sustainability partnerships. These narratives offer a glimpse into the sector’s resilience and its relentless pursuit of innovation.
Doo Financial Secures CySEC License: Broadening Horizons
Source: PR Newswire
Doo Financial, a subsidiary of the Doo Group, has achieved a significant milestone by obtaining the Cyprus Securities and Exchange Commission (CySEC) license. This regulatory approval expands the group’s operational capacity across the European Economic Area (EEA), providing clients access to an increasingly diversified portfolio of financial services.
The CySEC license is not just a testament to Doo Financial’s commitment to compliance but also a strategic step towards enhancing its global competitiveness. This move underscores a broader trend among fintech firms to establish regulatory strongholds in regions with robust governance frameworks. Europe’s stringent yet adaptive regulations offer fintech companies a balanced environment to innovate while adhering to consumer protection laws.
The CySEC approval signals a broader ambition: leveraging the EEA as a launchpad for expanding into other regulated markets globally. For the fintech sector, this development highlights the importance of regulatory alignment in building investor confidence and fostering sustainable growth.
Quantoz Payments Ventures into Stablecoins
Source: PR Newswire
Dutch fintech company Quantoz Payments has taken a bold step into the burgeoning stablecoin market by issuing euro and US dollar-denominated stablecoins. Backed by prominent crypto asset firms, this initiative positions Quantoz as a key player in the stablecoin ecosystem, bridging the gap between traditional finance and digital currencies.
Stablecoins have long been hailed as the connective tissue between volatile cryptocurrencies and traditional fiat systems. Quantoz’s approach emphasizes compliance and transparency, addressing major concerns surrounding digital asset adoption. This development reflects a growing consensus within the industry: stablecoins are the linchpin of future financial systems.
Quantoz’s move also highlights the increasing involvement of traditional institutions in digital finance. Backing from established crypto asset firms signals confidence in the stability and utility of these digital tokens. The future may see stablecoins becoming integral to cross-border transactions, remittances, and even central bank digital currency (CBDC) initiatives.
Asia’s Fintech Giants Target Middle Eastern Markets
Source: Fortune
Two leading Asian fintech firms, StashAway and Thunes, are spearheading expansions into the Middle East, a region emerging as a hotspot for fintech innovation. StashAway, renowned for its wealth management solutions, and Thunes, a global payments platform, aim to capitalize on the Middle East’s growing demand for digital financial services.
This expansion is not without challenges. Middle Eastern markets, while lucrative, present regulatory complexities and stiff competition from local players. Yet, these firms bring unique value propositions. StashAway’s data-driven investment strategies and Thunes’ seamless payment networks could fill critical gaps in the region’s financial infrastructure.
This move also underscores the strategic importance of Middle Eastern economies in the global fintech narrative. Countries like the UAE and Saudi Arabia are investing heavily in digital transformation, making them fertile ground for innovative financial solutions. By establishing a presence here, Asian fintech firms are not only diversifying their portfolios but also setting the stage for long-term growth.
Ualá Secures $300 Million in Investment: Latin America’s Fintech Boom
Source: Latin Lawyer
Argentine fintech company Ualá has successfully raised $300 million in its latest funding round, reaffirming Latin America’s status as a global fintech powerhouse. The investment, led by international heavyweights, reflects growing confidence in the region’s financial technology ecosystem.
Ualá’s meteoric rise is emblematic of Latin America’s fintech narrative—a story of innovation fueled by necessity. With large segments of the population underbanked or unbanked, fintech solutions have become a lifeline, offering accessible and affordable financial services.
The $300 million infusion will enable Ualá to expand its product offerings and penetrate new markets, further solidifying its position as a regional leader. For investors, this marks an opportunity to tap into one of the world’s fastest-growing fintech markets, characterized by high adoption rates and a youthful, tech-savvy demographic.
FTS Money Partners with Nano to Advance Fintech Sustainability
Source: The Paypers
FTS Money’s partnership with Nano sets a new benchmark for sustainability in fintech. By integrating Nano’s technology, FTS aims to reduce its carbon footprint and drive environmentally conscious financial practices. This collaboration highlights a critical trend: the convergence of financial innovation and environmental responsibility.
Sustainability has become a cornerstone for fintech companies seeking to align with global ESG (environmental, social, and governance) goals. Partnerships like this not only enhance operational efficiency but also resonate with a growing segment of environmentally conscious consumers.
The fintech sector’s focus on sustainability reflects a broader shift in corporate priorities. Companies are increasingly recognizing that profitability and environmental stewardship are not mutually exclusive. By embedding sustainability into their operations, fintech firms like FTS Money and Nano are paving the way for a more responsible and resilient industry.
Conclusion: A Tapestry of Transformation
Today’s developments paint a vivid picture of an industry in flux—embracing regulation, exploring new markets, innovating with stablecoins, and championing sustainability. Each story underscores a central theme: fintech’s ability to adapt and thrive amid changing landscapes.
As fintech firms continue to evolve, their success will hinge on balancing innovation with responsibility. Whether through regulatory compliance, strategic expansions, or sustainable practices, the industry is charting a path toward a future that is inclusive, resilient, and transformative.
The post Fintech Pulse: Navigating Expansion, Innovation, and Sustainability appeared first on .
Plug and Play, a global accelerator platform and one of the most active early-stage investors globally, has announced a strategic partnership with Gujarat International Finance Tec-City (GIFT City). Through the partnership, Plug and Play will establish and run the International Fintech Innovation Hub (IFIH), GIFT City’s FinTech Incubator and Accelerator, which aims to foster research and innovation in financial technology, reinforcing GIFT City’s role as a premier global fintech hub.
GIFT City’s MD and Group CEO, Mr. Tapan Ray, said, “Our vision at GIFT City is to drive fintech innovation by creating a climate-resilient, inclusive ecosystem that empowers diverse entrepreneurs and builds workforce competitiveness in emerging technologies. With the support of prominent partners in fintech education and incubation, we are committed to nurturing a new generation of talent that will be well-equipped to meet the needs of an evolving global economy.”
Manav Narang, Head of Financial Services for Plug and Play APAC and Program Lead for the GIFT Incubator and Accelerator added, “We are thrilled to bring Plug and Play’s global expertise to GIFT City. Our vision is to create India’s largest industry-wide fintech program – a collaborative platform where banks, payments corporations, venture capital and corporate venture capital firms, accelerators, and ecosystem partners unite. Together, we aim to catalyze transformative fintech solutions and nurture fintech unicorns that will shape the future of finance in India.”
The program will support fintech startups with resources, mentorship, capital, and networking to navigate and excel globally in the dynamic fintech landscape. The first batch of startups will be unveiled in January 2025.
The post Plug and Play and GIFT City Launch “IFIH,” a Global Fintech Incubator and Accelerator appeared first on .
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
The post Doo Financial Now in Indonesia: Offering Local Investors A Gateway to Global Markets appeared first on .
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