- Rocket Doctor AI, the Canadian company, acquires 100% of UAE-based Alea Health Holdings, a specialist in AI-powered digital mental health solutions.
- Alea provides automated mental health support to patients around the clock, aiming to enhance patient experience and reduce administrative burdens in the mental health sector.
- The deal includes a cash payment, issuance of common shares, and settlement of financial obligations, and is subject to regulatory approvals and specific securities release conditions.
Rocket Doctor AI, a Canadian company specializing in digital health solutions and AI-powered remote medical care, has signed a definitive agreement to acquire 100% of the shares of UAE-based Alea Health Holdings.
Alea Health Holdings develops digital mental health platforms that use artificial intelligence and voice and language analysis technologies to provide automated psychological support to patients around the clock, focusing on improving patient experience and reducing administrative burdens in the mental health sector.
Under the agreement, Rocket Doctor AI will pay $15,000 USD in cash (already paid), issue 285,712 common shares with a par value of 0.70 CAD per share, and assume Alea’s obligations under a SAFE agreement totaling $180,000 USD, to be paid in monthly installments of $22,500 USD until fully settled.
The deal is subject to several closing conditions, including signing employment agreements with certain Alea staff and obtaining required regulatory approvals, including from the Canadian Securities Exchange.
All issued securities will be subject to a 4-month-and-1-day legal hold, in addition to a contractual release schedule spanning 28 months, with 20% of the shares released every 4 months starting from the first anniversary of the deal’s closing.
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