FogChain Corp. recently announced that it has entered into a letter of intent with a Canadian Teleradiology Services, Inc. on 5th of November 2019. According to this LOI, the FogChain will acquire all of the outstanding shares of Canadian Teleradiology Services with regard to a share exchange agreement which will lead to a fundamental change of the FogChain Corp. by Canadian Teleradiology Services Inc. within the meaning of the policies of the Canadian Securities Exchange Inc. The resulting issuer upon completion of the Transaction will change its name which will be acceptable to the parties and will operate the current business of Canadian Teleradiology Services Inc.
The CEO of CTS, Mr. Mitchell Geisler explained that they are a healthcare company which is committed to finding new sectors within its industry. This will help to fill patients’ needs and provide opportunity for the growth of the company. We aim to rapidly expand our services by going public in the Canadian market. We begin to acquire additional new healthcare businesses which are developing new technologies, thus providing faster, high-quality services for our patients. The advancements in medical digital technology along with rapid remote interpretation of images in cases of emergency, and increasing number of chronic diseases of congestive heart failure, orthopedic injuries, and others are factors influencing the teleradiology market growth as per a new report study by Value Market Research.
This deal will provide the current FogChain shareholders an opportunity to share in CTS’s success and growth in the future. FogChain will immediately begin to enhance along with develop CTS’s medical technology using its own suites of testing and monitoring products as communicated by James Cerna who is the current CEO of FogChain.
Canadian Teleradiology Services
Canadian Teleradiology Services, Inc., (“CTS”) provides Teleradiology services (remote radiology), using licensed IT platforms and hosted servers. CTS is a leading Canadian supplier and solution for remote rural hospitals and helps to ensure they can provide quality service to their communities. CTS service assist hospital’s emergency rooms and diagnostic imaging departments to offer its communities emergency care on a 24-hour 7 day a week cycle.
FogChain
FogChain is a fully integrated, end-to-end software development life cycle (SDLC) and quality assurance solutions provider. With its high-performance application development, testing and monitoring platform, Trident, FogChain’s suite of services and technology provides application development at scale with greater speed, greater efficiency and at a lower cost. The explosive demand for more edge computing and security within the Micro-Service, IoT, mobile data and driverless vehicle space places FogChain’s Build-Once-Deploy-Everywhere software architecture as a leading ecosystem of tools and resources for developers that bridge devices, operating systems and the ability to build and launch exciting new applications in a unified environment.
Naira Shekhawat has been into Content Writing just after completing her Graduation in English Literature. Her love for words has won her many accolades in her respective jobs ever since. Naira covers business sections for VMR News. She is a traveller by heart and loves writing on food blogs as a freelancer.