Miraculins Signs LOI with New Leaf Health

Miraculins Inc. (TSXV:MOM) has signed a LOI with New Leaf Health to scout the DS(R) diabetes screen in the UK workplace wellness market. New Leaf is an industry leader specializing in the provision of effective employee wellness programs and health checks, helping businesses identify employee health risks and their associated costs, and then delivering customized interventions and solutions that support individual and organizational behaviour change.  
As quoted in the press release:

Miraculins Inc. has executed a non-binding letter of intent (LOI) with New Leaf Health Ltd., one of the largest, most experienced workplace wellness providers in the United Kingdom, for the exclusive distribution of the Scout DS diabetes screen into the U.K. workplace wellness segment. New Leaf has a large and growing roster of clients including multi-nationals such as British Airways, Airbus and Volvo and it delivers evidence-based and cost-effective wellness programming throughout the entirety of the UK.
Under the LOI, the parties have acknowledged the general terms that will form part of a formalized agreement, including the award of exclusive distribution rights to New Leaf within the UK workplace wellness segment for a designated period of time with options for renewal, and New Leaf’s commitment to a minimum purchase of Scout DStrademark devices within the first year of screening operations. According to the terms of the LOI, Miraculins is also to receive an ongoing payment for every Scout DStrademark test conducted in the UK and additional revenue through the provision of branded test consumables.

President and CEO of Miraculins,Christopher Moreau, stated:

“Miraculins is pleased that the Scout DStrademark diabetes screen will soon be available to employees in both the private and public sector across the UK through New Leaf Health. The workplace is an ideal environment for the large-scale screening of employees for risk of diabetes, and our expansion into the UK marks the first distribution agreement among many we look forward to establishing, for the introduction of the Scout DStrademark into workplaces in countries throughout the European Union and around the world.”

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