New Leaf Brands buys 100% Share in Digital Health Platform Mindleap
Category: #business  By Mateen Dalal  Date: 2020-05-23
  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn

New Leaf Brands buys 100% Share in Digital Health Platform Mindleap

 

  • New Leaf Brands has signed an LOI to become a 100% shareholder in Mindleap for CAD $3,500,000
  • CEO of Mindleap Nikolai Vassev says that this will help the company improve Mental Health solutions and reduce their time to market

New Leaf Brands has recently signed a non-binding letter of Intent to acquire 100% share in the advanced digital Health platform Mindleap Health in exchange for CAD $3,500,000 which is payable at .55$ per share as per the date of signing the Letter of Intent.

The Mindleap platform was designed to help people connect with mental health specialists to help people develop habits for a healthy mind. The software has been designed by neuro scientists and leading psychologists to improve upon the existing telemedicine solutions. The product is set to launch during Q3 of 2020. The software development team at Mindleap has a good track record of delivering software solutions and have developed over 200 software solutions over the last ten years. This Mindleap development team have also previously been responsible for developing HIPAA compliant health applications.

Nikolai Vassev, CEO and Founder at Mindleap Health expressed his excitement at joining alliances with New Leaf Brands and said that he is extremely pleased to begin work with their talented new team. He also said that the investment made in Mindleap will get the company closer to their goal of improving mental health services and will also help the speed up its launch proceedings.

Josh Barch, CEO and Director at New Leaf Brands released a statement saying that they were blown away by Mindleap’s unique approach to addressing Mental Health. Moreover, he stated that Mindleap fills an important void within the market and their focus on mental health fits well with their strategy.

New Leaf brands will pay a finder’s fee for the transaction and will look to close the transaction following the due diligence investigations. Upon the closing of the transaction, New Leaf Brands will directly Invest CAD $500,000 into Mindleaf and will pay a further CAD $500,000 on or before September 1, 2020.

Source Credits: https://www.benzinga.com/pressreleases/20/05/n16082091/newleaf-brands-agrees-to-acquire-mindleap-health-inc-digital-health-platform-to-combine-mood-emoti

  • shareshare_icon
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal     twitter

Mateen Dalal

A qualified electronics and telecommunication engineer, Mateen Dalal embarked on his professional journey working as a quality and test engineer. Harnessing his passion for content creation however, Mateen pens down industry-rich articles for ReportsGO.com and a few o...

Read More..

More News By Mateen Dalal

Xiaomi and Oppo team up with UNISOC to manufacture in-house 5G chipsets

Xiaomi and Oppo team up with UNISOC to manufacture in-house 5G chipsets

By Mateen Dalal

The two companies intend to introduce their custom-made sub-6GHz 5G chipsets by the end of 2021. UNISOC has managed to raise around USD 817.20 million for its new venture. Chinese electronics giants including Xiaomi Corp. and Guangdong Oppo Mob...

Twitter explored USD 4 billion takeover of audio-chat app Clubhouse

Twitter explored USD 4 billion takeover of audio-chat app Clubhouse

By Mateen Dalal

Twitter, an American microblogging service company, had touted plans of acquiring Clubhouse, an audio chat iPhone app and live drop-in audio networking platform. The deal was estimated to be valued at around USD 4 billion, as per reliable sources. T...

Beyond Meat sets up factory in China to expedite localized innovation

Beyond Meat sets up factory in China to expedite localized innovation

By Mateen Dalal

American plant-based meat substitute producer Beyond Meat has opened a new production facility in China. Apparently, this recent setup is the company’s first facility outside the U.S., making it the only multinational organization solely focusi...