Kovo HealthTech Corporation (TSX-V:KOVO) announced that it has signed a two-year perpetual intellectual property (IP) license with a long-term client valued at US$750,000.
The healthcare technology company said the contract took effect on November 1, 2022.
“Leveraging our IP investment has been a strong strategic focus in 2022 and we're pleased to confirm that Kovo has signed a two-year deal with one of our long-term partners who operates an 18-bed private clinic in the Cayman Islands,” Kovo HealthTech CEO Greg Noble said in a statement.
READ: Kovo HealthTech posts 2Q revenue jump driven by organic growth and strategic acquisitions
“The contract is already in effect and our team is in the process of customizing and extending our IP in partnership with the facility,” Noble added.
Kovo noted that it posted 211% year-over-year revenue growth during its last quarter, driven by a combination of organic growth of its core software as a service (SaaS)-style medical billing software and services business, as well as two strategic and accretive acquisitions the company completed in 2021.
Kovo HealthTech is a healthcare technology company that specializes in billing-as-a-service offering SaaS recurring revenue contracts and software to more than 1,700 US healthcare providers.
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