Davion Healthcare Buys Humaskan Medical Technology IP for $25 Million

Nasdaq-listed Davion Healthcare Plc (DAVI) has acquired intellectual property for two medical technologies from Humaskan Ltd.'s four shareholders for $25 million after a larger company purchase fell through.

The number of acquisition shares will remain the same regardless of changes in Davion's market price.

One of the technologies, WoundSkan, is a wound dressing with a temperature sensor clinicians can read using a smartphone without removing the dressing. Results from the Spektra Lateral Flow Test are available in about two minutes and are sent to a smartphone through passive near-field communication. Spektra is designed to flag anomalies for further clinical investigation; it is not a diagnostic test.

The purchase does not include Humaskan as a company, its employees or its liabilities. Davion had previously agreed to buy all of Humaskan for $60 million. The sellers terminated that agreement Sept. 1 after conditions tied to Davion's planned Nasdaq listing were not met by an Aug. 31 deadline. Davion began trading on Nasdaq Oct. 22.

Davion plans to issue the acquisition shares Jan. 20, 2027.