India, Sept. 18 -- DataMeds AI, Inc. (MEDS) announced that it has reached a litigation settlement related to outstanding debt and receivables associated with a 2023 membership purchase agreement involving Wellgistics, LLC. The settlement removes approximately $19 million in liabilities from the company's balance sheet and retires 364,099 shares of common stock.
The settlement resolves litigation tied to obligations that had been carried as liabilities by the company. Under the agreement, DataMeds AI paid a total of $450,000 in cash and retired approximately 364,099 shares of its common stock.
DataMeds AI is a healthcare technology company that combines health information technology, pharmacy services, telemedicine capabilities, and artifi...