Healthcare Triangle Signs Non-Binding LOI to Acquire 51% of CosmoInnovations; Enters High-Growth Proprietary MedTech and Consumer-Health Markets

Transaction introduces 27 granted international patents, 61 pending applications, and a commercial pipeline targeting over US $50 million in cumulative revenue over three years.

PLEASANTON, Calif., July 29, 2026 /PRNewswire/ -- Healthcare Triangle, Inc. (Nasdaq: HCTI) ("HCTI" or the "Company"), a leader in digital transformation solutions for the healthcare and life sciences industries, today announced it has signed a non-binding Letter of Intent (LOI) to acquire a 51% equity stake in CosmoAesthetics Pty Ltd. Operating under the brand CosmoInnovations, the Melbourne, Australia-based company is a premier innovator in MedTech, BeautyTech, and consumer-health products.

The proposed total consideration for the acquisition is US $23.5 million, structured through a combination of cash, equity, and performance-linked milestones over a three-year period.

Transforming Into a Product-Led Innovation Platform

This transaction marks a pivotal evolution in HCTI's corporate strategy, transitioning the Company from a pure-play healthcare IT services provider into a product-led healthcare innovation platform. By combining its existing artificial intelligence and digital infrastructure with CosmoInnovations' physical and medical technologies, HCTI would seek to establish a high-margin, recurring-revenue ecosystem spanning clinical and consumer-facing health sectors.

Robust Intellectual Property and Revenue Pipeline

CosmoInnovations brings a vast, clinically diverse portfolio consisting of more than 25 proprietary technologies. Its advancements span high-growth sectors including skincare, photobiomodulation (light therapy), respiratory wellness, oral health, pain management, transdermal delivery, and home-based consumer care.

The asset portfolio is backed by a deeply fortified intellectual property moat:

• 27 granted international patents.
• 61 pending patent applications worldwide.

According to CosmoInnovations' management, the business is financially positioned to target more than US $50 million in cumulative revenue over the first three years post-acquisition, accelerating to an annualized run-rate of approximately US $33 million by Year 3. There can be no assurance that these targets will be achieved. See "Forward-Looking Statements" below.

CosmoInnovations is a proud alumni company of Johnson & Johnson Innovation – JLABS, having completed a four-year residency at JLABS Shanghai, one of the world's largest healthcare innovations hubs and a key center within the global JLABS network. This experience supported the development of the company's portfolio of patented medical, beauty and wellness technologies and strengthened its global innovation and commercialization capabilities.

Why the Transaction Matters to HCTI

HCTI expects the acquisition to support several strategic objectives:

• Proprietary intellectual property. The transaction would add a differentiated patent estate and healthcare technologies to HCTI's existing digital capabilities.
• Recurring-revenue opportunities. SkinGate PODs, serum packs, replacement filters, connected services and licensing could complement HCTI's existing technology-services revenue.
• Expansion beyond healthcare IT. HCTI would move further into proprietary products, consumer-health technologies and scalable commercial platforms.
• AI integration across connected products. HCTI intends to explore personalized recommendations, digital assessments and data-driven services across the CosmoInnovations portfolio.
• Exposure to adjacent healthcare markets. The transaction extends HCTI's reach across MedTech, BeautyTech, home-based care, wellness, respiratory health and connected consumer healthcare.
• A global commercialization platform. HCTI's technology infrastructure and healthcare network could support manufacturing, distribution and market entry for CosmoInnovations' products.

Manufacturing and U.S. Market Pathway

CosmoInnovations' CirQlight™ LED-based technology is manufactured exclusively for CosmoInnovations by Shenzhen RedV Medical Equipment Co., Ltd. Diligence documentation indicates that this manufacturer completed U.S. Food and Drug Administration (FDA) establishment registration and medical device listing for fiscal year 2025.

FDA establishment registration and device listing are administrative filings and do not constitute FDA clearance, approval or endorsement of any product.

Third-Party Recognition

CosmoInnovations has pursued early commercial pathways and received recognition from external organizations, including:

• Chemist Warehouse: marketplace access through an agreement with ePharmacy Group.
• MedTech Innovator Asia Pacific: selected as one of 20 companies from more than 680 applicants for the 2026 program cohort.
• L'Oréal Beauty Innovation Runway: SkinGate placed fifth among more than 120 participating technology companies and was named a finalist in the BeautyMatter Awards.
• Media coverage: CosmoInnovations and its technologies have been featured in outlets including Forbes Australia and USA Today.

Execution Terms and Safeguards

As part of the transaction, HCTI will immediately initiate comprehensive, independent intellectual property and financial due diligence to verify the status, chain of custody, and valuation of CosmoInnovations' patent portfolio. The performance-linked structure of the proposed US $23.5 million consideration is designed to align with commercial execution, safeguarding capital and driving long-term shareholder value.

Management Commentary

David Ayanoglou, Chief Financial Officer of Healthcare Triangle, said:

"This acquisition represents the next phase of Healthcare Triangle's growth. We are bringing enterprise healthcare technology, artificial intelligence, proprietary intellectual property and connected consumer products together within one integrated platform. Our objective is to use HCTI's healthcare expertise, technology capabilities and public-market platform to help accelerate commercialization and build a more scalable, diversified and globally relevant healthcare company."

Dr. Mathew Jafarzadeh, Founder and Director of CosmoInnovations, said:

"Joining Healthcare Triangle would provide access to the artificial-intelligence capabilities, healthcare infrastructure, international network and capital-markets platform to help accelerate commercialization of our portfolio. Together, we believe we can develop our technologies into a connected-health ecosystem supported by proprietary devices, recurring consumables, digital capabilities and international distribution."

About CosmoInnovations

CosmoInnovations is an Australian MedTech, BeautyTech, and consumer-health innovation company headquartered in Melbourne. The company has developed a portfolio of non-invasive technologies across skincare, photobiomodulation, respiratory wellness, oral health, pain management, transdermal delivery, and assisted health. Its initial commercialization strategy is led by SkinGate and selected first-wave products designed to generate device sales, recurring consumable revenue, and international distribution opportunities.

About Healthcare Triangle, Inc. (Nasdaq: HCTI)

Healthcare Triangle, Inc. delivers advanced digital transformation, artificial intelligence, and cloud-infrastructure solutions for healthcare providers, payers, and life sciences organizations. HCTI reinforces healthcare delivery through enhanced security, compliance, data analytics, and operational efficiency.

Forward-Looking Statements

This press release contains "forward-looking statements," which are statements related to events, results, activities or developments that HCTI expects, believes or anticipates will or may occur in the future. Forward-looking statements often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," "aims" and similar expressions and the negative versions thereof. Such statements are based on HCTI's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances and speak only as of the date made. These statements include, but are not limited to, statements regarding the potential acquisition of CosmoInnovations, projected revenues, the closing of the transaction, and corporate growth strategies. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including the ability to negotiate definitive agreements, complete due diligence satisfactorily, obtain regulatory approvals, and successfully integrate acquired products. For details on the uncertainties that may cause actual results to be materially different than those expressed in forward-looking statements, please review the Company's Annual Report on Form 10-K and other reports on file with the Securities and Exchange Commission at www.sec.gov, particularly the information contained in the section entitled "Risk Factors." The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise, except as required by law.

Investor Relations & Capital Markets Contact:
Healthcare Triangle, Inc. (Nasdaq: HCTI)
1-800-617-9550
[email protected]

SOURCE Healthcare Triangle, Inc.