TORONTO, Canada, September 10, 2008 – Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF), a leading provider of secure application platforms for the mobile world, today announced it has signed an exclusive worldwide license and revenue share agreement with AllOne Mobile Corporation (“AllOne”), a subsidiary of Hospital Service Association of Northeastern Pennsylvania to cross license certain software and to share revenues from the secure mobile access to personal health records and information. All dollar amounts are in U.S. dollars.
During the five year agreement, Diversinet will receive up to $39.5 million as a minimum commitment from AllOne. In addition, Diversinet also completed a $500,000 statement of work for AllOne, bringing the combined total to $40 million. Diversinet and AllOne will continue their efforts with health plans and other customers in the mobile personal health record and information market. Under the agreement, the parties have certain termination rights. This agreement replaces the agreement with AllOne Health Group, Inc. signed in August 2007.
“This agreement demonstrates AllOne’s commitment to the mobile health information market” said Albert Wahbe, CEO and Chairman of Diversinet. “By extending the term of the agreement and the minimum annual commitments, this exclusive worldwide partnership provides a solid base to aggressively pursue our business development and global sales strategy which will generate new revenues to significantly enhance shareholders value.”
“We are delighted with our expanding partnership with Diversinet. We believe there is great potential for having personal health information at the consumers’ fingertips” said William Reed, President and CEO of AllOne. “Secure portability of personal health records at the time of care, the convenience and peace of mind in being able to receive fast and secure coverage confirmation – all accessed securely through a mobile device – makes this solution an innovative product that will enable consumers to take control of their health information in a cost-effective manner.”
About Diversinet
Diversinet Corp. (TSX Venture: DIV, OTCBB: DVNTF) is a leading provider of secure application platforms for the mobile world utilizing wireless authentication and access solutions that secure the personal identity, transactions and data of consumers over almost any mobile phone or handheld device. Diversinet’s reliable, end-to-end MobiSecure Wallet and Vault products provide global, secure and cost effective applications to mobilize personal health records, financial services transactions and identity protection management. Connect with Diversinet Corp. at www.diversinet.com.
About AllOne Mobile Corporation
AllOne Mobile Corporation provides an industry-leading mobile application that places personal health information at consumers’ fingertips through their mobile phones. AllOne Mobile saves health information in a secure environment and links to users’ mobile phones, giving them well-organized, easy-to-use, 24/7 mobile access – without the need for an Internet connection. In conjunction with its technology partner, Diversinet, AllOne Mobile enables real-time access to health information that can be securely shared with physicians, hospitals, pharmacies and other health care providers. For more details, visit www.allonemobile.com.
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