6PM has announced that it has entered into an agreement with Javali LLC through which it will be licensing its proprietary solution CareSolutionsTM.

Javali is a limited liability company incorporated in the State of Utah in the United States of America and is composed of a number of shareholders, including the University of Utah.

Javali has been granted the right to further develop CareSolutions in order to create a solution aimed at enabling financial institutions to improve and increase their financial efficiencies through an automated audit capability.

In consideration of the license and the commitment to provide assistance to further develop the solution, 6PM has been issued with 10% in equity in Javali. The total investment by 6PM is being estimated to amount to GBP 950,772 (€ 1,159,417). Furthermore 6PM will be allotted with 40% in equity in a company that will be granted exclusive rights to market the solution in Europe.

All the necessary development and support in relation to the solution will be provided by 6PM resources in Malta and Macedonia. The solution is expected to reach the market by latest September 2014. 6PM expects to start bearing results from this investment in 2015.

Ivan Bartolo, CEO of 6PM said: “Our involvement with Javali is an outstanding step forward for the 6PM Group. Besides the fact that we are investing in another product for the health market, we are entering in the United States market and through Javali Europe, 6PM will have sole distribution rights. The Javali solution deals with revenue leakage that is experienced by hospitals throughout the patient stay. Through this solution we are going to be able to assist hospitals either recover their lost revenue or make changes to their business process to prevent such leakage.”