New York, November 06, 2024 - PRISM MarketView - A leading artificial intelligence (AI) company specializing in medical diagnostics to support faster and more precise treatment decisions in wound care, Spectral AI, Inc. (MDAI) has announced plans to spin off its subsidiary, Spectral IP, Inc. through a transaction with Sauvegarder Investment Management, Inc., a development-stage company focused on financing and monetizing intellectual property (IP) assets. This strategic move aligns with Spectral AI’s objective to enhance shareholder value by nurturing growth within Spectral IP, enabling it to capitalize on IP assets that support the broader AI ecosystem with a strong emphasis on healthcare. Spectral AI will retain all of its 26 patents and 38 patent applications.
The spinoff is expected to bring several key benefits, including refined strategic focus, optimized capital allocation, greater shareholder value, and new strategic growth opportunities for Spectral IP.
Spectral AI intends to distribute stock in Spectral IP to its shareholders, transforming it into an independent, publicly traded company. The Company aims to complete this transaction within 90 days, subject to Board approval, SEC registration, regulatory consents, and other conditions. The timeline and outcome remain uncertain, pending these factors.
“This spinoff presents an outstanding opportunity to deliver additional value for our shareholders. By separating, we’re paving the way for focused IP investments outside our core in medical diagnostics. This approach allows Spectral IP to explore significant growth opportunities beyond diagnostics while fostering innovation in the IP sector.”
Dr. J. Michael DiMaio, Chairman of Spectral AI’s Board of Directors
After the spinoff, Spectral IP, to be renamed SIM IP Inc., will offer IP-based financing and monetization services across industries.
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