UDHI Acquires Worldwide Rights for Breakthrough Medical Patent
Union Dental Holdings, Inc. (UDHI) has signed a final Licensing Agreement with Consulting Group of Jocassee, Inc. (CGJI) to acquire worldwide rights to CGJI's Patent #10,718,586, covering medical device design and distribution. This Agreement includes a new Patent Application #17/017,546, enhancing CGJI's existing patent portfolio. UDHI aims to market these patented products swiftly, anticipating significant revenue in FY2021. CEO Michael O'Shea emphasized the collaborative effort behind this deal, positioning UDHI for potential NASDAQ listing.
- Acquisition of worldwide rights to Patent #10,718,586, potentially increasing market reach.
- New Patent Application #17/017,546, enhances product offerings and may drive revenue growth.
- Expectations of significant revenue generation from patented products throughout FY2021.
- None.
MAULDIN, S.C., Sept. 30, 2020 /PRNewswire/ -- Union Dental Holdings, Inc. (OTC: "UDHI", the "New UDHI") announced signing final Licensing Agreement with Consulting Group of Jocassee, Inc. ("CGJI"), granting UDHI world-wide rights to CGJI 's recently awarded Patent, #10,718,586,as it pertains to design, manufacture, and world-wide distribution of medical devices. This Agreement also encompasses a newly filed Patent Application, #17/017,546, that further enhances previously granted patent, as well as other intellectual property owned by CGJI pertaining to medical devices.
Concurrently, UDHI Chief Science Officer Dr. Anja Glisovic has been preparing a budget and identifying medical applications that will bring the initial products to market in the shortest possible time frame. The Company expects to realize significant revenue from these patented products throughout FY2021
"I greatly appreciate the efforts expended by our New UDHI team to expeditiously bring this Agreement to close" said UDHI CEO Michael O'Shea. "Special thanks go to my fellow Director and current President of CGJI, Steve Gravely, who was instrumental in putting together a well-balanced deal serving best interests of all UDHI shareholders."
ABOUT THE NEW UDHI
On July 2, 2020, forensic accountant Michael O'Shea accepted the appointment to become the new CEO and sole Board member of Union Dental Holdings Inc. ("UDHI"), a publicly traded company that had emerged from a FL-727 filing in January 2016 and had been languishing as a public shell ever since. Mike quickly made two very important additions to the Board and brought in a highly respected securities attorney to help him clean up all previous problems associated with the shell and begin transitioning to a business "worthy of a NASDAQ listing". That process has now begun in full with the filing of the OTCIQ to the OTC MARKETS, with the addition of world class Chief Science Officer, Dr. Anja Glisovic, who is leading the Company's business development efforts into the medical field, and with the closing of the Licensing Agreement for the patents discussed above. For more information on the New UDHI visit NEWUDHI.com
SAFE HARBOR
This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
Media Contact: Adrienne Mazzone, amazzone@transmediagroup.com 561-908-1683 CompanyWebsite: www.newudhi.com
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SOURCE Union Dental Holdings, Inc.
FAQ
What does the Licensing Agreement with CGJI entail for UDHI?
What are UDHI's revenue expectations for FY2021 following the Licensing Agreement?
How does the new Patent Application #17/017,546 impact Union Dental Holdings?
Who is leading UDHI's business development efforts?
