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DataMeds AI Litigation Settlement Extinguishes ~$19 million In Liabilities and Retires 364,099 Common Sharessked
DataMeds AI Litigation Settlement Extinguishes ~$19 million In Liabilities and Retires 364,099 Common Sharessked
TAMPA, FL / ACCESS Newswire / September 18, 2026 / DataMeds AI, Inc. (NASDAQ:MEDS) ("DataMeds AI," "DataMEDS," or the "Company"), a healthcare company leveraging its Health IT and physical infrastructure together with its artificial intelligence platform EinsteinRx™ and smart contracts platform PharmacyChain™,today announced that it has settled litigation related to outstanding debt and receivables related to the May 11, 2023 Wellgistics, LLC Membership Purchase Interest Agreement (the "Settlement Agreement") that were previously carried on the Company's balance sheet as liabilities totaling of approximately $19 million. As part of the Settlement Agreement, the Company retired approximately 364,099 common shares of DataMEDS common stock. The Company paid a total of $450,000 in cash for the Settlement Agreement.
"The Company is pleased to put this outstanding litigation behind it so it can focus on solving healthcare's biggest challenges for our clients through the vertical integration of healthcare delivery, and the compliant tokenization of pharmaceutical supply tracking and patient data," said Gerald E. Commissiong, Interim Co-CEO of DataMEDS.
Additional information on the settlement can be found on Form 8-K on the Securities and Exchange Commissiong website: https://www.sec.gov/ix?doc=/Archives/edgar/data/0002030763/000149315226043169/form8-k.htm
About DataMeds AI, Inc.
DataMeds AI, Inc. (NASDAQ:MEDS) (formerly Wellgistics Health, Inc.) is a leading Health IT company that focuses on the vertical integration of technology, pharmacy, pharmaceutical-adjacent and telemedicine business units to deliver a better healthcare experience for consumers. Headquartered in Tampa, Fla., DataMeds, AI, incorporates the artificial intelligence platform EinsteinRx™ and blockchain-enabled smart contracts platform PharmacyChain™ into the Health Lives Here mobile application, and its Corexa Health subsidiary provides pharmacy and pharmacy services, including the distribution of products developed by Tollo Health, LLC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding: future events, including DataMeds AI, Inc.'s payment of the Dream Bowl Tokens and the timing thereof (including that the Board may change the Payment Date) and the Company's intention to deliver liquidity and broad distribution of the Dream Bowl Tokens. These statements are based on management's current expectations and are not predictions of actual performance.; the Company's plans to expand into telemedicine and diagnostic laboratory services; the Company's proposed transaction with DataVault AI Inc. (NASDAQ: DVLT), Scilex Holding Company, EOS Holdings and HealthBridge Advisors; the satisfaction or waiver of closing conditions applicable to any of the foregoing; the receipt of stockholder approval and any other required approvals; the Company's anticipated business strategy, operating plans and growth opportunities; the integration of telemedicine, pharmacy, laboratory, wearable-device, artificial intelligence, blockchain and data-management technologies; the proposed development, commercialization and expansion of EinsteinRx AI, PharmacyChain, Health Lives Here and related platforms; the anticipated growth of the market for Long COVID products and related treatment approaches; the Company's ability to empower patients to access, manage, control or monetize health data; the anticipated benefits of the Company's technology platforms, strategic relationships and business combinations; the Company's capitalization, outstanding securities, lock-up arrangements, public float and registration statements; the Company's ability to maintain compliance with Nasdaq listing standards; and the Company's liquidity, capital resources and ability to fund operations.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
DataMeds AI Media Contact
James Lambert, Vice President
Rubenstein Public Relations
Phone: 212.805.3024
Email: [email protected]
DataMeds AI Investor Contact
Investor Relations: [email protected]
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SOURCE: DataMEDS AI, Inc.
View the original press release on ACCESS Newswire
(L.Thomas--TAG)
