Canadian consumer goods company Pure to Pure Beauty (CSE: PPB, FRA: 3QG0) has recently completed the acquisition of the software platform InturAI with the aim of revolutionizing the healthcare and monitoring industry.
InturAI’s platform is designed to enhance patient outcomes and reduce the cost of care in consumer settings like nursing homes by collecting vital data such as activity levels, vital signs, and health issues. Additionally, it offers intuitive monitoring for security purposes and has the potential to expand into various health and wellness sectors.
One of the breakthrough aspects of InturAI is its ability to utilize signals from existing consumer hardware, like Wi-Fi routers, to gather important health information within the signal’s range and translate it into spatial intelligence and movement tracking. This unique feature eliminates the need for cameras, multiple sensors, or wearable devices for tracking and categorizing movements.
CEO Simon Cheng of Pure to Pure is optimistic about the acquisition of InturAI, stating that it aligns with the company’s strategic goals. He sees the technology behind InturAI as a means to introduce cost-effective Wi-Fi-based monitoring for the elderly and individuals in care facilities. The company plans to further develop the platform and position it as a health and wellness product for aging populations and individuals with disabilities, ultimately leading to improved health outcomes, especially in monitoring areas like falls.
As part of the acquisition agreement, Pure to Pure issued 20 million common shares to the vendor and will distribute up to 5 million additional shares over five years based on quarterly revenue targets. These milestones range from $250,000 by March 2026 to a maximum of $1 million by March 2029. The consideration and performance shares will be subject to Canadian securities laws, including a holding period and a voluntary pooling agreement.
