Toronto-based mobile health company Diversinet agreed to sell its assets to IMS Health for about $3.5 million (US). The sale includes Diversinet’s intellectual property, software, and customer contracts. Some employees will also be offered positions at IMS, once the deal is finalized. The asset acquisition is still subject to the approval of the company’s shareholders but a vote is scheduled for mid-September. Diversinet plans to liquidate its remaining assets and wind up the rest of the business.
Diversinet’s revenues for the second quarter of 2013 were $263,000 down from $419,000 year over year. Total revenues for the first half of the year were $566,000 down from $701,000 during 2012′s H1. Net loss for Q2 was $794,000. Diversinet delisted its shares from the Toronto Stock Exchange on August 13th. The acquisition is a telling move for IMS Health, which now has a portfolio of mobile health-related patents.