Union Bridge Holdings has signed a memorandum of understanding agreement with APrevent Medical (Feldkrich, Austria) for a potential share swap between Union Bridge and APrevent.
APrevent Medical designs, manufactures and distributes medical equipment and is currently developing the Vocal Implant System and Intelligible Speak (AiSpeak).
The Vocal Implant System is a laryngeal implant that is used for glottis insufficiency. Glottis insufficiency is typically treated with medialization thyroplasty Type I by inserting artificial or transplanted materials into the paraglottic space to close the glottis. Patients who have a large glottis gap or high vagal lesions require a surgical procedure. The APrevent Vocal Implant System combines the advantages of both procedures for better results.
The potential share swap outlined in the agreement is subject to the valuation, negotiation of definitive agreements and approval of the board of directors at each company.
“The proposed cooperation with APrevent would help us to further expand our operation in the healthcare business,” said Joseph Ho, CEO of Union Bridge.
If the conditions of the agreement are met and the development of the Vocal Implant System and AiSpeak technologies are complete, First Channel would receive priority to promote and be the exclusive distributor of the devices in China, India and Thailand. First Channel would also be responsible for marketing.