Date

12 de November 2020

Colombian company IMEXHS issued shares in Australian stock exchange to leverage its international expansion

Foreign Direct Investment
Technology Based Services

The company, which develops next-generation cloud-based medical imaging solutions, completed an 8.3 million Australian dollar (AUD) operation, resources with which it hopes to strengthen its product development areas in Colombia and accelerate expansion in new markets such as U.S., Brazil and Australia.

IMEXHS

Imexhs (ASX: IME), a leading international provider of software as a service (SaaS) and assisting imaging services, recently announced that they received a commitment from institutional and sophisticated investors to raise gross revenue of approximately 8,3 million dollars AUD. 

Placement revenue will be used to strengthen the company's balance sheet and drive future growth, focusing on accelerating the expansion in new markets such as U.S., Brazil and Australia, as well as advancing product development through technology associated with the genetic diagnostics, gastrology and imagology.

Commenting on the placement revenue, Imexhs Chairman Doug Flynn said: "We are delighted with the strong support received from our current shareholders and we welcome our new investors. The success of this placement represents a strong support to our investment program and business growth opportunities." 

"Companies like Imexhs promote the growth and training of talent, innovation and technology with Colombian signature, and become vehicles that contribute to the strengthening and attraction of efficient foreign investment, to reactivate the economy and the rise of exports in our country," said Flavia Santoro, president of ProColombia.

Imexhs has specialized in the development of next-generation software of medical imaging 100% made in Colombia, with innovation, technology and the use of resources of artificial intelligence to process images of radiology, pathology and cardiology. In addition, the company is certified by the U.S. Food and Drug Administration (FDA).

In Colombia, Imexhs has a team of 131 professionals in areas such as Development, Innovation, Engineering, Support, Marketing, Medical Management, among others. Precisely, as part of its strategy to strengthen the development of new products in Bogota, the company will start looking for more than 10 engineers specialized in medical software development.

"The talent pool found in Bogota is essential so that companies like Imexhs can continue to invest and trust the city to support its growth," said Juan Gabriel Perez, Executive Director of Invest in Bogota, who also mentioned that investments made by companies with high innovation component, positively impact users and the overall health sector. 

According to the company, founded in 2012, the placement was well supported by the strong demand of new and existing shareholders. As part of the placement, IMEXHS will issue 276 million new common shares at an issue price of 3.0 cents per share. Shares will be issued without shareholders´ approval due to the company's available placement capacity in accordance with the ASX 7.1 and 7.1A Stock Pricing Rules.

Since its founding, the company has invested more than AUD 25.5 million in Colombia, from where it exports health technological solutions, to more than 15 countries, making a presence in the United States, Spain, Australia and Latin America. The company has been supported by ProColombia and Invest in Bogota in its growth and expansion in the country. 

IMEXHS founder and CEO Dr. German Arango commented: "We are very excited about the Company's growth prospects, particularly on our expansion to the US, Brazil and Australia. This funding allows us to accelerate our penetration into these regions with our leading SaaS products, including our Aquila in the Cloud disruptive business model offering. Since its launch in May this year, Aquila in the Cloud has gained rapid customer traction by providing a low-cost solution for small and medium-sized customers who had so far been unable to afford the available on-site solutions from other vendors. This unattended segment accounts for 80% of the total U.S. market, creating a significant opportunity for Imexhs' innovative medical imaging solutions."