ImageWare has entered into a new business venture with American Biometric Solutions, Inc. revolving around a new healthcare communications app called pillphone.
The mobile app is designed to help connect healthcare professionals with patients, and the companies say it’s the only such solution on the market that is FDA-approved. It also incorporates biometric authentication, presumably to help keep patient data secure.
The deal underscores the importance of partnerships to ImageWare’s business model, as the company’s CEO emphasized in ImageWare’s latest quarterly update. In a statement, American Biometrics Solutions cited ImageWare’s “track record and technology” in explaining why it was chosen as a partner in this venture, adding, “As both medical professionals and investors, we greatly understand the need for this product and believe there is a large addressable market.”
The app is largely based on ImageWare’s GoMobile Interactive platform, and the non-exclusive licensing deal with American Biometric Solutions entails an unspecified six-figure licensing fee as well as equally shared revenues from future sales.
(Originally posted on FindBiometrics)