ROLLING MEADOWS, IL, Feb. 05, 2018 (GLOBE NEWSWIRE) — OneLife Technologies Corp. (“OneLife” or the “Company”) (OTC PINK: OLMM), a mobile medical data and technologies company, today provided this report highlighting the Company’s recent agreement to acquire 100% of Yinuo Technologies Ltd., a Chinese-based developer of mobile communications technologies.
On December 22, 2017, OneLife entered into a Stock Purchase Agreement with Fang Sun, pursuant to which the Company contracted to acquire 100% of the issued and outstanding capital stock of Yinuo Technologies Ltd. (“Yinuo”) in exchange for $500,000 and 40,000,000 shares of the Company’s common stock. Also, pursuant to the agreement, the current management of Yinuo, including founder and CEO, Fang Sun, will join OneLife as senior employees.
Focused primarily in the Chinese marketplace, Yinuo develops, manufactures and markets a series of mobile and handheld medical grade devices for medical and healthcare services. Yinuo provides a complete cloud system of mobile healthcare with various hospitals, extending the services to discharged patients. Yinuo’s technologies have been used in over 100 hospitals across China.
In addition to Yinuo’s considerable experience in development and deployment of wearable medical tracking technologies to hospitals in China, Yinuo’s business assets and intellectual property consist of several patents, patents pending, copyrights, and trademarks. This includes the invention patent “A Method of Sensor Watch for Remote Acquisition and Monitoring of Physiological Signs and States” (No.: 201310748019.X), the invention patent “A device for Monitoring States of Infants’ Health and Emotions” (No.: 201310747594.8) and the appearance patent “ID Design for a Sensor Watch” (No.: ZL.2014.3.0050904.6).
Robert J. Wagner, CEO of OneLife, commented, “The complete acquisition of Yinuo Technologies by OneLife will elevate our current development partnership to the next level and position the combined companies and management teams to take full advantage of Yinuo’s proven and award winning wearable medical tracking device technologies and OneLife’s sales experience and strategic access to the U.S. healthcare system and U.S. capital markets.”
“Based on Yinuo’s previous expansion rates and revenue generation with installations across China, we are very excited for the opportunity to aggressively build upon their past success with a stronger combined team to launch this proven technology and business model across the U.S.A.”
Closing of the acquisition of Yinuo Technologies Ltd. by OneLife is subject to customary terms and conditions, including receipt of (i) a formal Calculation Valuation and Appraisal Report and (ii) two years of audited financial statements audited by a Public Company Accounting Oversight Board registered and approved audit firm. The Company anticipates closing the acquisition within 45-60 days.
About OneLife Technologies Corp.
OneLife Technologies Corp. (OTC Pink: OLMM), is a mobile medical software/data collection company with a suite of proprietary, patented, medical grade wearable tracking technologies designed to provide patients, physicians, nursing homes, and hospitals with 24/7 real-time centralized, personal, comprehensive health data. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
FORWARD LOOKING STATEMENT
This news release includes forward-looking statements that reflect OneLife Technologies Corp. current expectations about its future results, performance, prospects and opportunities OneLife Technologies Corp. has tried to identify these forward-looking statements by using words and phrases such as “may”, “will”, “expects”, “anticipates”, “believes”, “intends”, “estimates”, “should”, “typical”, “we are confident” or similar expressions. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company’s actual results, performance, prospects of opportunities for the remainder of 2018 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements.
OneLife Technologies Corp.
Source: OneLife Technologies Corp
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