Optum Health Focuses On Search

By: Peter Jermyn

Optum Health Ltd ("OPM")advises that it has entered into an agreement with Wavtech PtyLtd ("Wavtech"), its co-venture partner in Optum E.S. Pty. Ltd("Optum ES"), in relation to the shares and shareholding in thatcompany.

Optum ES is the operating company for the co- venture and holdsthe Australasian rights to the US based TerraSan and MariSanwater treatment and recycling technologies. Under the currentshareholding structure OPM holds an 80% equity in Optum ES andWavtech a 20% carried interest.

Under the terms of the new agreement the shareholding in OptumES will be re-arranged such that Wavtech will hold an 85% equityand OPM a 15% carried interest.

As consideration for the re-structure, Wavtech will pay a cashpayment to OPM of $800,000 (eight hundred thousand dollars). OPMwill further receive a gross sales royalty of 3% on all TerraSanand MariSan systems sold or leased by Optum ES from the date ofthe Agreement until 30 June 2008.

OPM has decided on the new shareholding structure and royaltyarrangement so as to give more specific project direction to andfinancial focus on its rapidly growing search-engine and onlinemedia divisions. The Company intends to announce a more detailedupdate on the current activities, progress and growthprojections of Ansearch duing the comingweek.

The Company believes the restructure will provide considerablebenefits to the Company and its shareholders and create anincreased market appeal and awareness. OPM can now moresingularly direct its financial, corporate and marketingenergies to the business expansion and revenue growth of Ansearch, its associatedsearch-engine brandsand products and to its related online media interests.

The Company will be able to actively pursue this direction whilecontinuing to maintain a presence in the potentially lucrativewater re-treatment industry through its retained equity in OptumES and with the substantial up-side provided by a gross salesroyalty

Technology
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Technology