6PM has entered into an agreement with Javali LLC through which it will be licensing its proprietary solution, CareSolutionsTM.

The Javali solution deals with revenue leakage that is experienced by hospitals throughout the patient stay. The solution helps hospitals either to recover their lost revenue or to make changes to their business process to prevent such leakage.

Javali is a limited liability company incorporated in the State of Utah in the US and is composed of a number of shareholders, including the University of Utah.

6PM has been issued with 10 per cent of the equity in Javali. The total investment by 6PM is being estimated at £950,772 (€1,159,417).

Furthermore 6PM will be allotted 40 per cent of the equity in a company that will be granted exclusive rights to market the solution in Europe.

All the necessary development and support in relation to the solution will be provided by 6PM resources in Malta and Macedonia.

The solution is expected to reach the market by September at the latest. 6PM expects to start bearing results from this investment in 2015.

6PM CEO Ivan Bartolo said: “Besides the fact that we are investing in another product for the health market, we are entering in the US market, and through Javali Europe, 6PM will have sole distribution rights.”

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