Healthcare Triangle (NASDAQ: HCTI) signed a non-binding letter of intent to acquire a 51% stake in CosmoAesthetics Pty Ltd. The proposed acquisition of the Melbourne-based medical technology firm is valued at $23.5 million. HCTI will pay the consideration through a mix of cash, equity, and performance milestones over three years.
This deal marks HCTI’s strategic shift from IT services toward a product-focused innovation platform. CosmoAesthetics brings a portfolio of 27 granted international patents and 61 pending applications. These intellectual property assets target skincare, pain management, and consumer health sectors. Completion of the deal depends on due diligence and a definitive agreement.