Cosmos Health Inc. announced that it has revised a non-binding letter of intent to buy telemedicine business ZipDoctor Inc. The healthcare company said it renegotiated the price "to achieve much improved payment terms."
The updated letter will remain effective until February 15, 2023.
ZipDoctor is a wholly owned subsidiary of American International Holdings Corp., and is a direct-to-consumer subscription-based telemedicine platform.
Greg Siokas, Chief Executive Officer of Cosmos Health said in a statement, "We are enthusiastic about the proposed addition of ZipDoctor to Cosmos Heath's family of companies. The telehealth industry is set for strong growth, and we believe that ZipDoctor, with the proper investment from Cosmos, can become a significant player in the space. Furthermore, we intend to expand on ZipDoctor's current primary care and mental health service offerings to include the ability to speak to a doctor to seek additional medical treatments related to and including men's and women's health and wellness issues, weight loss and other similar treatments. Furthermore, we are satisfied with the renegotiated price of the acquisition, as we are always looking to increase our returns on investment."