Enlitic (ASX:ENL) signed an advanced payment agreement with GE HealthCare, demonstrating completion of the prerequisites under the previously disclosed memorandum of understanding between the parties, according to a Friday Australian bourse filing.
GE HealthCare has delivered the initial advance payment of $2 million, fulfilling all required actions under the memorandum of understanding and allowing the companies to move forward with their collaboration.
Under the agreement, Enlitic's unit Laitek will deliver between about AU$4.6 million to AU$9.2 million per year of annual migration capacity to GE HealthCare for the next five years, which represents an opportunity for revenue to Enlitic of up to AU$46 million over the next five years.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.