Business
EPIC Acquires Exclusive Worldwide License to Healthcare Products Valued at $1.95M
EPIC Acquires Exclusive Worldwide License to Healthcare Products Valued at $1.95M.
About this update from Epic Corporation Colo
[{"type":"text","content":"\nEPIC Acquires Exclusive Worldwide License to Healthcare Products Valued at $1.95M\n\nEPIC Acquires Exclusive Worldwide License to Healthcare Products Valued at $1.95M\n\n\nAUSTIN, TX--(Marketwired - November 17, 2014) - EPIC Corporation Inc. (PINKSHEETS: EPOR) announces EPIC has acquired an exclusive worldwide license to all the rights to the EPIC Fabric Healthcare Products in exchange for all its ownership rights to the AcuFAB® trade name and design patent which was valued at $1.95 Million and receives a $1 Million License Fee from EPIC Medicor Corporation for Marketing & Distribution rights of EPIC Fabric Healthcare Products. EPIC received an assignment of two sub license agreements, to RX Healthcare Systems, Ltd., a subsidiary of EPIC, and EPIC Medicor Corporation, an affiliated company. RX Healthcare received an exclusive for North America for consumer health care products. EPIC Medicor received an exclusive license for North America for medical market segments. Each license provides for a one time license fee of $1,000,000. The EPIC Medicor license fee is to be paid to EPIC. EPIC recently received the worldwide exclusive license and sub-licenses in exchange for any and all rights to the design patent, trademarks, pattern wheels and NDA. EPIC is to pay a royalty of 5% on all product sales. The sub-licenses provide for the licensees to pay EPIC 50% of any one time sub-licenses fees issued by them and a royalty of 10% on all product sales. EPIC plans to promote the sale of semi-exclusive licenses in other areas for $1,000,000. And are currently negotiating European marketing and distribution rights.\nAbout EPIC:\nEPIC CORPORATION is special purpose financial services company. EPIC provides corporate, business and financial services to subsidiaries, affiliates, and independent companies. Our focus is on healthcare and consumer product companies. EPIC strives to provide capital growth for it and its shareholders through the acquisition, development and commercialization of technology and intellectual property. We realize, we cannot prosper in isolation. We and our strategic partners use various technologies and intellectual property to develop economical products. We are committed to grow our business through research and development, production, marketing, and sales of healthcare products and services and other ...