Jayex Technology Limited announced that the Company has entered into a Binding Term Sheet Agreement with Shine Clinical Limited (Shine) under which, subject to completion of due diligence processes and completion of formal documentation, the companies will operate a business via a joint venture arrangement that will provide services to: UK NHS customers in managing disease prevalence, ensuring patients get access to the appropriate treatments for their conditions. Enable UK pharmaceutical and medical device industry customers to achieve their market access strategies. Shine is a rapidly growing provider of clinical data services including health data analytics with an experienced healthcare management team, an expanding customer base that includes NHS, pharmaceutical and other health industry organisations.

In joining Jayex in the new venture, Shine can accelerate its growth by utilising the Jayex customer base in the UK. Jayex and Shine have agreed to bring their respective GP data analytical and revenue optimisation businesses together through the joint venture arrangement to realise the immediate synergy benefits from their complimentary and merged data analytical software programs and to develop new IP to increase the automation of the analytical processes. All IP developed by the joint venture business utilising Jayex's existing technology will be owned by Jayex.

The joint venture will leverage the Jayex customer base and data integration capabilities along with Shine's healthcare data analytics intellectual property, to deliver services that are highly competitive and rapidly scalable. The joint venture will have sufficient operational capacity and financial standing to be able to credibly compete for and deliver large industry contracts (Annual Contract Value greater than AUD 2 million). Typically, contracts are multi-month, range in size from AUD 500,000 to AUD 2 million and are often repeated on an annual basis.

The joint venture will provide the Company: An opportunity to rapidly broaden the scope of the patient engagement journey currently supported via the core Jayex services; Entry into a large and growing market segment, estimated at approximately $180 million in the short- to medium-term, with a low number of competitors; The opportunity to materially increase the scope and value of services provided to the existing Jayex customer base, as well as improving the ability to secure new primary care non-NHS customers. As part of the joint venture, Jayex has agreed to exclusively source its clinical services from Shine for Jayex's business and the joint venture business. Shine has agreed to exclusively source its technical services and support from Jayex for Shine's business and the joint venture business.