Wellgistics Health, Datavault AI Agree to Form DelivMeds AI
Wellgistics Health (WGRX) and Datavault AI (DVLT) said Wednesday they have entered a binding term sheet to form DelivMeds AI (MEDS), a healthcare platform combining blockchain-enabled pharmacy infrastructure, AI-driven logistics and biometric verification.The transaction includes an expanded license for Datavault AI's PharmacyChain platform, the acquisition of QOLPOM intellectual property from EOS Technology and Scilex (SCLX), and the acquisition of a controlling stake in Tollo Health, according to the companies.The companies said the transactions forming DelivMeds carry an expected combined asset value of about $4 billion.DelivMeds AI will connect to Wellgistics' network of more than 6,500 pharmacies and over 200 manufacturers through the expanded PharmacyChain license, the companies said.The QOLPOM acquisition adds biometric verification technology and medical drone delivery capabilities, while the Tollo Health transaction adds telemedicine, AI-enabled mental health coaching and a portfolio of medical foods and dietary supplements.Financial terms were not disclosed.Shares of Wellgistics Health were down more than 30% in Wednesday trading, while Datavault was 0.5% higher.Price: $0.16, Change: $-0.01, Percent Change: -7.74%
