Advanced Human Imaging Executes Binding Agreement to Acquire Israeli Based Physimax

PERTH, Australia, April 29, 2021 /PRNewswire/ -- Advanced Human Imaging Limited (ASX: AHI) is pleased to announce that, further to the April 19, 2021 letter of intent announcement, it has executed a Binding Heads of Agreement (HOA) for the proposed acquisition of Israeli based musculoskeletal assessment (MSK) company Physimax Technologies Limited (Physimax).

Physimax has developed a revolutionary video-based solution that tracks and improves musculoskeletal wellness, therapy and performance by objective, data-driven analysis of musculoskeletal condition via a mobile device.

The imaging technology measures and scores mobility, stability, strength, and movement control through movement patterns and multidimensional computer analysis. The software-based technology provides a data-driven assessment of an individual's musculoskeletal system and identifies problematic issues prior to delivering a personalized solution.

"This binding agreement to acquire Physimax, happens as the MSK space sees accelerated interest from insurance and care-provision platforms that also understand the intervention and treatment requirements of musculoskeletal conditions which affect 1.71 billion people worldwide," said Vlado Bosanac, Chairman and Chief Executive Officer of AHI.  "Physimax has been used by the U.S. military, Division I colleges, and professional sports organizations including the NFL, NBA, MLB, and soccer leagues. Physimax would be a welcome addition to the AHI MultiScan platform which already provides body scanning for dimension and chronic disease risk marker identification, and face scanning for the assessment of vital signs via transdermal imaging."  

The HOA is subject to AHI concluding due diligence to its satisfaction on or before May 21, 2021.

For more information about AHI's technology, please visit: www.advancedhumanimaging.com

For more information on Physimax, please visit: https://pmax.co/

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*This announcement has been approved by the board of Advanced Human Imaging Limited.

SOURCE Advanced Human Imaging

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