• Enlitic signs binding MOU with GE HealthCare to deliver US$3-6m per year of migration capacity
• Enlitic receives A$10m in firm commitments from new and existing investors via a two-tranche placement
• Placement includes options subject to shareholder approval

Enlitic, Inc. (ASX: ENL) has signed a binding memorandum of understanding (MOU) with GE Precision Healthcare, LLC. (GE HealthCare) under which Enlitic's wholly-owned subsidiary Laitek Inc. will work to deliver between US$3-6m per year (A$5-10m) of annual migration capacity to GE HealthCare for the next 5 years. The arrangements under the MOU are conditional on Enlitic securing a minimum of A$10 million in funding from external sources. Enlitic has received firm commitments from new and existing institutional and sophisticated investors to raise A$10 million via a two-tranche placement. Tranche one will raise ~A$5.8 million, while tranche two, subject to shareholder approval, will raise ~A$4.2 million. Participants in the placement will also be offered options, subject to shareholder approval. The funds raised will be used for research and development, quality and regulatory, strategic development, sales and marketing, customer service, corporate costs, and working capital. Enlitic still anticipates achieving operational cashflow break-even by the end of CY25.

Laitek has committed to work in good faith to deliver between US$3-6 million per year (A$5-10 million) of annual migration capacity to GE HealthCare for the next 5 years, representing a total revenue opportunity of US$15-US$30 million (A$25-A$50 million).