The Board of Directors of UCrest announced that the Company had on 3 July 2024 entered into a Distribution Agreement ("Agreement") with Seecure Holding Corporation ("Seecure") to engage Seecure to market and support the iMedicTM platform services including iMedic OpticsTM, the ophthalmology Artificial Intelligence ("AI") product in the territory of North, Central and South America continents. The comprehensive and intelligent Customer Relationship Management (CRM) or Patient Relationship Management (PRM) capabilities in iMedicTM platform would play a significant role in empowering doctors to focus more on the treatment and care plan, giving rise to better efficacy.
Seecure currently has over 800 accounts and it has been growing very rapidly. It is expected to grow exponentially to 5,000 - 10,0000 accounts in 2025 with the expansion of distribution channels both online and offline. iMedicTM is made available to these customers immediately. The duration of the Agreement is five (5) years. The commencement date and expiry date of the Agreement are 3 July 2024 and 2 July 2029 respectively. The renewal term is not specified in the Agreement. RATIONALE, BENEFIT AND PROSPECT: UCrest and Seecure share the vision that empowering patients to manage their own health with remote monitoring and escalation to the doctors when abnormality is detected by the AI engine in iMedicTM. RISK FACTORS: UCrest does not foresee any significant risks other than foreign currency risk associated with the Agreement.