Dave Savastano02.11.11
Toumaz Limited, a pioneer in low cost, ultra low power wireless communications and broadcast technology, announces that California Capital Equity LLC (CCE), a company owned by Dr. Patrick Soon-Shiong, has made a strategic investment in the Group.
Toumaz is issuing 14,563,142 shares to CCE at 8.83p per share, representing a stake of 2.46% in the Group. Application will be made for the shares to be admitted to trading on Feb. 16, 2011. Following admission, there will be 608,187,868 shares in issue.
CCE and Toumaz will collaborate to develop Toumaz’s market leading wireless healthcare and wellness technology, the Sensium platform, for use in sports. Collaboration for other applications, including wireless healthcare, will also be assessed. The two companies will focus on chargeable multi-use devices for the North American market.
Toumaz already has a strategic relationship for the commercialisation of a disposable patch for continuous monitoring in hospitals.
Los Angeles-based Dr Soon–Shiong has developed and sold two multi-billion dollar pharmaceutical companies and now heads Abraxis Health, a company focused on personalized healthcare. Dr Soon–Shiong is also executive director of the Wireless Health Institute at UCLA working on real-time health monitoring, and the founder of the National Coalition for Health Integration, which is creating a health network for the secure sharing of biomedical information across the U.S.
“Mobile, wireless monitoring devices are the future of healthcare,” Dr. Soon-Shiong said. “The challenge is to make these devices affordable and reliable, with good ergonomics and very low energy needs. Toumaz has all these bases covered, so I am very bullish about the company's prospects, and am excited to participate with Toumaz’s strong development team."
"I am delighted that Patrick’s business has not only invested in Toumaz but in a clear endorsement of our technology is working with us to develop Sensium for the consumer healthcare markets,” Professor Chris Toumazou, Toumaz chief executive, commented. “He has tremendous entrepreneurial expertise in the medical devices and technology sector.”
Toumaz is issuing 14,563,142 shares to CCE at 8.83p per share, representing a stake of 2.46% in the Group. Application will be made for the shares to be admitted to trading on Feb. 16, 2011. Following admission, there will be 608,187,868 shares in issue.
CCE and Toumaz will collaborate to develop Toumaz’s market leading wireless healthcare and wellness technology, the Sensium platform, for use in sports. Collaboration for other applications, including wireless healthcare, will also be assessed. The two companies will focus on chargeable multi-use devices for the North American market.
Toumaz already has a strategic relationship for the commercialisation of a disposable patch for continuous monitoring in hospitals.
Los Angeles-based Dr Soon–Shiong has developed and sold two multi-billion dollar pharmaceutical companies and now heads Abraxis Health, a company focused on personalized healthcare. Dr Soon–Shiong is also executive director of the Wireless Health Institute at UCLA working on real-time health monitoring, and the founder of the National Coalition for Health Integration, which is creating a health network for the secure sharing of biomedical information across the U.S.
“Mobile, wireless monitoring devices are the future of healthcare,” Dr. Soon-Shiong said. “The challenge is to make these devices affordable and reliable, with good ergonomics and very low energy needs. Toumaz has all these bases covered, so I am very bullish about the company's prospects, and am excited to participate with Toumaz’s strong development team."
"I am delighted that Patrick’s business has not only invested in Toumaz but in a clear endorsement of our technology is working with us to develop Sensium for the consumer healthcare markets,” Professor Chris Toumazou, Toumaz chief executive, commented. “He has tremendous entrepreneurial expertise in the medical devices and technology sector.”