Aptilon Announces Sale of Certain Assets
MONTRÉAL, QC, Nov. 6, 2012 /CNW/ - Aptilon Corporation ("Aptilon" or the "Corporation") (TSX-V: APZ) today announced that its wholly-owned subsidiary, Aptilon Holdings Inc. ("Holdings"), has come to an agreement with regards to the sale of substantially all of its assets related to its business of providing multichannel, e-detailing and physician marketing services to members of the healthcare industry (the "Business") to Indegene Aptilon, Inc. ("Indegene Aptilon"). The sale of these assets will allow Aptilon to focus its activities on the healthcare marketing and data services business it acquired in September 2009.
Indegene Aptilon is a wholly-owned subsidiary of Indegene Lifesystems Pvt, Ltd., and it deals at arm's length with Aptilon and Holdings.
The sale of the Business is made for a price of $1,500,000 payable in cash at the closing plus earnout amounts based on the EBITDA of the Business for the quarter ending December 31, 2012 and the year ending December 31, 2013. The maximum earnout amount for the quarter ending December 31, 2012 is $500,000 payable on June 30, 2013. The earnout amount for the year ending December 31, 2013 is $2,000,000 if the EBITDA target is fully met (such earnout amount may be increased if the EBITDA target is exceeded) payable on June 30, 2014.
The closing of the sale will occur as soon as possible, and is subject to various conditions including the obtaining of the necessary approvals from the regulatory authorities, Indegene Aptilon's satisfaction with its due diligence and the consents of third parties to the assignment of material contracts. Although Aptilon's management is not currently aware of any impediments, there are no assurances that the closing conditions will be met.
About Aptilon Corporation
Aptilon enables pharmaceutical, biotech and medical device companies to effectively reach, message, connect and interact with US physicians and healthcare professionals via multiple access channels. Its innovative service offerings provide targeted impressions and interactions through: video and mobile detailing, digital access channels and permission-based email services. Top pharmaceutical companies and respected healthcare organizations have adopted Aptilon's solutions to market to, engage and interact with leading healthcare practitioners. For more information, visit www.aptilon.com.
Indegene is a leading provider of R&D, commercial and marketing solutions to global pharmaceutical and healthcare organizations. We partner with clients to drive both productivity and revenues by delivering better patient outcomes, optimizing cost, enhancing R&D agility, and improving sales and marketing effectiveness. We apply deep scientific knowledge, flexible delivery models, proprietary technology, and a client-centric approach to drive transformational initiatives.
With offices in US, UK, China, India, and Australia, Indegene can partner globally with clients, leverage a global talent pool of clinicians, technologists, creative specialists, domain experts, business process specialists, deploy global infrastructure assets, and harness global healthcare knowledge to solve client challenges. For more information, visit www.indegene.com
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SOURCE: Aptilon CorporationFor further information: