A settlement agreement just reached between Diversinet Corp., Toronto, and AllOne Mobile Corp. will allow Diversinet to freely market secure mobile healthcare applications worldwide.
Diversinet, innovator of secure mobile healthcare applications, reached the settlement with AllOne and its parent company, AllOne Heath Group Inc., which were seeking the termination of the party’s Sept., 2008, license and revenue sharing agreement.
According to the terms of the settlement agreement, AllOne will pay Diversinet US$4 million to terminate the License Agreement, including any future revenue sharing obligations. Diversinet will also retain complete ownership and control over its related intellectual property developed during the term of the License Agreement.
Additionally, the parent company of AllOne Heath Group, Hospital Service Association of Northeastern Pennsylvania, (Blue Cross of Northeastern Pennsylvania) will return to Diversinet all of the common shares of Diversinet it currently owns, totalling 6,956,152 shares, acquired in a private placement completed in Aug., 2007.
Albert Wahbe, Diversinet’s chairman and CEO, says “This resolution will now allow us to proceed freely to execute our go-to-market strategy, which focuses on providing feature-rich mobile applications that securely connect and protect people with their healthcare information, providers and payers – anytime, anywhere.”