HATBORO, Pa., June 15 /PRNewswire-FirstCall/ -- InfoLogix, Inc.
(Nasdaq: IFLG), a leading technology provider of enterprise
mobility solutions for the healthcare and commercial industries,
announced today that as part of the periodic maintenance and review
of its intellectual property portfolio, the Company has agreed for
Intellectual Ventures Fund 68 LLC to acquire InfoLogix's U.S. and
South Korean patents on Touch Screen Systems and Methods, for
$2.2 million.
(Logo: http://photos.prnewswire.com/prnh/20090618/NE35135LOGO
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On June 8, 2010, InfoLogix entered
into a patent purchase agreement to sell its U.S. patent entitled
"Touch Screen Systems and Methods" and its corresponding South
Korean patent to Intellectual Ventures Fund 68 LLC, a Nevada limited liability company, for
$2.2 million. The Company expects the
sale of the patents and assignment of related rights to close
within the next 30 days, subject to the terms and conditions of the
patent purchase agreement. Upon closing, the Company will be
granted certain rights related to the patents and a license to
continue to make, use and develop products covered by the
patents.
Over the past decade, InfoLogix has cultivated a portfolio of
intellectual property that includes 19 patents related to mobility,
RFID, wearable computing and the healthcare supply chain. The
Company routinely examines new patents for acquisition and reviews
the patents and patent applications within its portfolio for their
long-term strategic value to the company. As part of this
process, the Company determined that it was in its best interests
to sell the Touch Screen Systems and Methods patents to
Intellectual Ventures Fund 68 LLC.
"In reviewing our portfolio, it became evident that these
patents, although not related to our day-to-day business, had
potential value and grown significantly from an technological point
of view in the open market from when we first acquired them," said
David Gulian, President and CEO of
InfoLogix. "With the help of our partner The Sage Group, we
investigated the various opportunities to maximize their value,
such as the pursuit of a licensing or enforcement strategy. We
determined that the most effective means for InfoLogix to monetize
the Touch Screen Systems and Methods patents was to sell them to
Intellectual Ventures Fund 68 LLC. We are attempting to
monetize other patents in our portfolio through licensing
programs."
"We are proud that The Sage Group IP Path to Value(SM)
facilitated InfoLogix in monetizing these patents and that our
relationship continues to bring InfoLogix success in determining
effective and cost efficient ways to achieve the maximum value from
its IP portfolio. The expertise and follow-through of Intellectual
Ventures has been instrumental in making this transaction occur in
a timely manner," said Tom Miller,
Partner at The Sage Group and a board member of InfoLogix.
About InfoLogix, Inc.
InfoLogix is a leading provider of enterprise mobility solutions
for the healthcare and commercial industries. InfoLogix uses the
industry's most advanced technologies to increase the efficiency,
accuracy, and transparency of complex business and clinical
processes. With 19 issued patents, InfoLogix provides mobile
managed solutions, on-demand software applications, mobile
infrastructure products, and strategic consulting services to over
2,000 clients in North America
including Kraft Foods, Merck and Company, General Electric, Kaiser
Permanente, MultiCare Health System and Stanford School of
Medicine. InfoLogix is a publicly-traded company (Nasdaq:
IFLG). For more information visit www.infologix.com
About The Sage Group
The Sage Group, of Bellevue,
Washington assists businesses to identify and unlock
strategic value reflected within the company's organization,
programs, products and intellectual capital. Sage's Path to
Value(SM) methodology focuses on working closely with a client's
internal resources and the company's market ecosystem creating a
path to achieve optimized value for their business. This is
accomplished by defining, accelerating, and sustaining compelling
corporate performance in the areas of intellectual property,
financial, market and organization performance. For more
information visit www.the-sage-group.com
Safe Harbor
InfoLogix makes forward-looking statements in this press release
which represent our expectations or beliefs about future events and
financial performance. Forward-looking statements are
identifiable by words such as "believe," "anticipate," "expect,"
"intend," "plan," "will," "may" and other similar expressions. In
addition, any statements that refer to expectations, projections or
other characterizations of future events or circumstances are
forward-looking statements. Forward-looking statements are
subject to known and unknown risks and uncertainties, including the
risks described in Amendment No. 1 to our Annual Report on Form
10-K for the year ended December 31,
2009, our Quarterly Report on Form 10-Q for the quarter
ended March 31, 2010, and other
filings we make with the Securities and Exchange Commission.
In addition, actual results could differ materially from
those suggested by the forward-looking statements, and therefore
you should not place undue reliance on the forward-looking
statements. We do not make any commitment to revise or update any
forward-looking statements to reflect events or circumstances
occurring or existing after the date of any forward-looking
statement is made.
Investor Relations:
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John A. Roberts
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Chief Financial Officer
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215-604-0691 x1102
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SOURCE InfoLogix, Inc.