Healthcare-focused identification and authentication specialist OrangeHook has entered into a non-binding merger agreement with public safety applications provider Kologik, with biometric patient identification to be a key focal point going forward.
The companies have not disclosed the terms of the agreement, but have signed a Letter of Intent and appear enthusiastic about potential synergies of the merger. With its LifeMed ID solution, OrangeHook already has a strong focus on patient identification, though it also offers digital identification solutions for emergency responders, airport workers, firefighters, police, and the military; Kologik, meanwhile, offers public safety applications including Computer Aided Dispatch, jail management, and school safety systems, among other solutions.
Together, the companies are aiming to become “the premier provider of tracking and logistics solutions to first responders & law enforcement agencies nationwide,” according to a statement announcing the proposed merger. And “Patient identity, linking to a biometric token and a health record, will be a key area of focus for the business moving forward.”
The companies say that together they expect to reach an EBITDA positive fiscal result within the 2019 fiscal year, and that they are aiming to list up to a national stock exchange such as the NASDAQ or NYSE by the end of the year as well, with the latter being a “key strategic goal” or the merger. The deal, assuming it proceeds, will see Kologik taking ownership of 60 percent of the merged entity, with Orangehook shareholders accounting for the remaining 40 percent.
July 24, 2019 – by Alex Perala