DarioHealth (NSDQ:DRIO) announced today that it entered into an agreement to acquire Physimax Technologies.
Physimax develops computer vision (CV) technology for musculoskeletal (MSK) functional screening and predictive risk of injury assessment.
The technology is currently used commercially by National Basketball Association and National Football League teams, the U.S. military and healthcare facilities specializing in orthopedic care, according to a news release. Physimax’s offerings enable automated MSK and injury risk screenings with validated accuracy, while the company’s AI engine generates evidence-based personal training programs to aid in effective injury prevention and recovery.
In consideration for the acquisition of Physimax’s assets, the company agreed to issue up to 256,660 shares of its common stock, plus a cash payment of $500,000, along with an agreement to assume certain liabilities in an approximate amount of $1.02 mi…