NetScientific PLC BTG purchases Wanda's shares in Oncoverse (0585D)
24 Abril 2017 - 3:00AM
UK Regulatory
TIDMNSCI
RNS Number : 0585D
NetScientific PLC
24 April 2017
("NetScientific" or the "Company" or the "Group")
Netscientific announces that BTG plc has purchased Wanda's
shares in OncoVerse for next stage of development
London, UK - 24 April 2017 - NetScientific Plc (AIM: NSCI,
"NetScientific", "the Group"), the transatlantic healthcare IP
commercialisation Group, announces that its portfolio company Wanda
has sold its holding in OncoVerse LLC ('OncoVerse' or 'the
Company') to BTG plc ('BTG') for an undisclosed amount.
The sale represents a strong return on NetScientific's initial
investment and a successful exit from the first downstream
application from Wanda, validating Wanda's superior ability to
provide support for clinicians.
OncoVerse is a digital health platform designed to allow cancer
patients' care teams to collaborate and allow clinicians across all
disciplines to work together to determine the most effective
treatment plan for their patients.
OncoVerse was initially conceived by a Dignity Health physician
and two administrators, who wanted a tool to improve team
collaboration, especially when evaluating complex cancer cases and
determining the appropriate treatment plans for patients. Dignity
Health, one of the nation's largest health care systems, prototyped
and tested the platform internally and then partnered with Wanda to
further develop the software. Dignity Health has also been a
co-investor in the joint venture since the platform's inception and
will continue to be a shareholder alongside BTG.
NetScientific's equity in OncoVerse comes from its majority
shareholding in Wanda.
Commenting on the news, François R. Martelet, Chief Executive
Officer of NetScientific and Chairman of Wanda, said: "We believe
the OncoVerse platform will become a leading tool in the management
of cancer patients and we are proud to have been involved in
helping bring it to maturity. The sale of the equity to BTG
represents a strong return on NetScientific's initial investment,
and underscores Wanda's unique expertise in creating tools which
can support informed treatment decisions. We are continuing to work
with Wanda to support the company in the development of remote
health management tools and sophisticated data analysis and to
identify other promising opportunities to maximise investment
returns from the technology."
Foad Dabiri, CEO of Wanda, commented: "I am very proud of the
team at Wanda for creating such a valuable product, in
collaboration with Dignity Health, which helps improve quality of
care for cancer patients. BTG's expertise and partnership will
enable a strong path forward for Oncoverse and its mission. We at
Wanda will continue focusing on building modern and innovative
clinical solutions to enhance management of care for patients."
- Ends -
For more information, please contact:
NetScientific Tel: +44 (0)20 3514 1800
François R. Martelet,
M.D., CEO
Ian Postlethwaite, CFO
Stifel Nicolaus Europe Tel: +44 (0)20 7710 7600
Limited (NOMAD and broker)
Jonathan Senior/ David
Arch/ Ben Maddison
Consilium Strategic Tel: +44 (0)20 3709 5700
Communications netscientific@consilium-comms.com
Mary-Jane Elliott /
Jessica Hodgson / Chris
Welsh / Laura Thornton
About NetScientific
NetScientific is a transatlantic healthcare technology group
with an investment strategy focused on sourcing, funding and
commercialising technologies that significantly improve the health
and well-being of people with chronic diseases. For more
information, please visit the website at www.netscientific.net
About Wanda
San Francisco-based Wanda is dedicated to advancing the
effectiveness and efficiency of medicine by using machine learning
in place of conventional technologies and by enabling clinicians to
make more informed care decisions. Wanda recognizes that remote
monitoring and algorithms cannot save lives or reduce
hospitalizations unless the individual and their caregivers are
promptly informed and highly engaged. Through the collaboration of
data science and applied medical research, Wanda has proven that
its inline analytics predict preventable events much better than
conventional methods. Wanda serves as a diligent companion,
providing encouragement and intelligent visual guidance that
simplifies and improves lives, while simultaneously helping
organizations reduce their care delivery costs. Wanda is a
NetScientific portfolio company. More information about Wanda can
be found at www.yourwanda.com.
About BTG
BTG is a global specialist healthcare company bringing to market
innovative products in specialist areas of medicine to better serve
doctors and their patients. We have a portfolio of Interventional
Medicine products to advance the treatment of cancer, severe
emphysema, severe blood clots and varicose veins, and Specialty
Pharmaceuticals that help patients overexposed to certain
medications or toxins. Inspired by patient and physician needs, BTG
is investing to expand its portfolio to address some of today's
most complex healthcare challenges. To learn more about BTG, please
visit: btgplc.com.
About Dignity Health
Dignity Health, one of the nation's largest health care systems,
is a 22-state network of more than 9,000 physicians, 62,000
employees, and 400 care centers, including hospitals, urgent and
occupational care, imaging centers, home health, and primary care
clinics. Headquartered in San Francisco, Dignity Health is
dedicated to providing compassionate, high-quality, and affordable
patient-centered care with special attention to the poor and
underserved. In FY16, Dignity Health provided $2.2 billion in
charitable care and services. For more information, please visit
www.dignityhealth.org.
This information is provided by RNS
The company news service from the London Stock Exchange
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