MEDICAL INNOVATION HOLDINGS, INC. (NYSE:ROP) Files An 8-K Entry into a Material Definitive AgreementItem 9.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On August 7, 2017 Medical Innovation Holdings, Inc. (“MIHI”), a Colorado corporation (the “Company”) entered into a Letter of Intent (LOI) with Orange Care Group of Miami lakes Florida. Medical Innovation Holdings, Inc. is to provide Information Technology management services to practices enrolled in Orange Care Group’s Accountable Care Organizations, including Total Care ACO, LLC d/b/a Orange Accountable Care of New York, Orange Accountable Care of New Jersey, LLC, Orange Accountable Care of Texas, LLC, Orange Accountable Care of South Florida, LLC or Orange Accountable Care Organization of South Florida, LLC (collectively known as “ACO”).
It is the understanding of the parties to this Letter that the products and services which Manager will provide to providers, practices and physicians that are members of the ACO (“ACO Participants”) will support the ACO’s mission of Advancing Care Information in connection with the provision of healthcare services by such ACO Participants to their patients who are Medicare beneficiaries
The term of this Letter of intent shall not be less than five months and at the end of such five-month period, an option to renew for a term of not less than one (1)year.
Compensation for the Services provided by Medical Innovation Holdings, Inc. (“MIHI”) to this Agreement is according to the following schedule:
| ● | A fifty thousand dollar ($50,000.00) set up fee will be paid to MIHI by Orange Care Group upon signing of this Agreement by Orange Care Group. Such fee shall be usedby MIHI to initiate performance of the services listed in ExhibitA. |
| ● | Medical Innovation Holdings, Inc.(“MIHI”) shall charge ACO providers, practices and physicians who elect to purchase any of the products and services being provided by MIHI a twenty percent (20%) service fee on a cost plus basis of Fair Market Value for any fee for service. This fee will be subject to negotiation by MIHI with Orange Care Group, its providers, practices andphysicians. |
The above description of the Letter of Intent is intended as a summary only and is qualified in its entirety by the terms and conditions set forth therein, and may not contain all information that is of interest to the reader. For further information regarding the terms and conditions of the Letter of Intent, this reference is made to the Letter of Intent, which is filed hereto as Exhibit 10.1 and is incorporated herein by this reference.
SECTION 9 — FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The following is a complete list of exhibits filed as part of this Report.
Exhibit numbers correspond to the numbers in the exhibit table of Item 601 of Regulation S-K.
| Exhibit No. | Description |
| 10.1 | Letter of Intent Orange Care Group |
MEDICAL INNOVATION HOLDINGS, INC. ExhibitEX-10.1 2 ex10-1.htm EXHIBIT 10.1 August 7,…To view the full exhibit click here
About MEDICAL INNOVATION HOLDINGS, INC. (NYSE:ROP)
Roper Technologies, Inc. is a technology company. The Company operates businesses that design and develop software and engineered products and solutions for various end markets, including healthcare, transportation, commercial construction, food, energy, water, education and academic research. The Company operates in four segments: Medical & Scientific Imaging, which offers products and software in medical applications, and digital imaging products; RF Technology, which provides radio frequency identification (RFID) communication technology and software solutions; Industrial Technology, which produces fluid handling pumps, materials analysis equipment and consumables, leak testing equipment, flow measurement and metering equipment, and Energy Systems & Controls, which produces control systems, fluid properties testing equipment, industrial valves and controls, vibration sensors and controls, and non-destructive inspection and measurement products and solutions. MEDICAL INNOVATION HOLDINGS, INC. (NYSE:ROP) Recent Trading Information
MEDICAL INNOVATION HOLDINGS, INC. (NYSE:ROP) closed its last trading session up +0.38 at 229.54 with 388,218 shares trading hands.