March 15, 2018 — San Diego, CA — MintHealth, a global, decentralized health platform that aligns healthcare stakeholders around the shared goal of patient empowerment and improved clinical outcomes, at lower costs, is creating a two-token structure on the Ethereum blockchain: Vidamints (VIDA) and the MintHealth Security Token (MHST). The Company also bolsters its leadership team with the addition of Jeremy “Jerry” V. Gross as Chief Strategy Officer, effective immediately.
“The market and regulatory landscape for ICOs is evolving rapidly and shifting to embrace security tokens as a growing platform for executing ICOs. We believe regulated security tokens are the future of ICOs and the direction the market is heading. We view this as a positive development greatly enhancing the value, integrity and funding of Blockchain-based ventures, including MintHealth,” said Samir Damani, CEO and co-founder of MintHealth.
The Vidamints (VIDA) and the MintHealth Security Token (MHST) will be linked in a way that enables stakeholders to participate in the growth of the MintHealth blockchain ecosystem, while capitalizing on the projected growth and regulatory compliant nature of security tokens.
Vidamints™ (VIDA) will operate as the rewards and incentive system on the MintHealth platform. Patients will earn Vidamints as a reward for completing healthy activities, thereby driving significant return on investment for Vidamint purchasers includiing health insurance plans, corporations, and other entities taking on financial risk for patient care
Patients will be able to redeem Vidamints for rewards in a similar fashion to frequent flier miles or other loyalty program points. The Vidamint token will not be used for capital raising activity.
The Vidamints token will be a loyalty/utility token that is sold at a fixed price (e.g. $0.10) via the MintHealth website and through the MintHealth enterprise sales team. All Vidamint transactions will be tracked and transparent via the blockchain.
MintHealth Tokens (MHST) will be a security token offered through a Regulation D private sale process (under Rule 506(c) of Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”)). MintHealth is also exploring opportunities to offer MHST through regulatory compliant future sale(s) via Jobs Act Exemptions. The MHST token is expected to entitle holders to i) a 10% royalty percentage of revenues generated through the sale of Vidamints by MintHealth, subject to certain adjustments and offsets, and ii) equity ownership in MintHealth. MintHealth will be distributing the Regulation D private placement memorandum for prospective buyers of MHST in the coming weeks.
Read more in the MintHealth executive-authored article, “A Dual Token Structure of Utility and Security Tokens” on MintHealth’s Medium channel.
Additionally, MintHealth announces the appointment Jerry Gross as Chief Strategy Officer.
In this new role, Jerry provides executive oversight for creating, communicating, and executing MintHealth’s strategic initiatives, including its business and operating models, product development, and strategic partnerships.
“We are excited to add Jerry’s strategic approach and high focus for growth to our world-class leadership team. Jerry is an industry visionary who has been an influential architect of global strategies for leading healthcare companies,” said Damani. “Jerry’s appointment reflects his deep technology and domain experience, customer focus, and strategic global perspective.
Prior to joining MintHealth, Jerry held senior technology and product software development leadership roles at Amgen, McKesson, Bank of America, JP Morgan and Intuit. Throughout his career, he has achieved industry recognition in spearheading “first of a kind” Digital Health, Wellness, Financial Services, and Internet Services through Technology Strategy, Digital Vision, Software Development, Digital Marketing, Strategic Alliances and Digital Operations. Over the last couple of years, his teams have globally launched digital products solving serious unmet patient needs, including, identifying over 300,000 patients suffering from previously undiagnosed illnesses
“I’m energized to join the MintHealth team. This is an exciting time for the Company as it builds out the MintHealth platform and partner ecosystem,” said Gross. “MintHealth is gaining tremendous interest and traction from various stakeholders in the healthcare ecosystem. I look forward to working with Samir and the leadership team to accelerate the great work already underway.”
Jerry is a graduate of the David Syme School of Business at Monash University in Melbourne Australia and is a recipient of the Moxie Award for the Best Digital Innovation as well as the Network World User Excellence Award.
The MintHealth Tokens to be offered in an offering under Regulation D promulgated under the Securities Act have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. These securities are expected to be offered and sold in reliance on the exemption from registration set forth in Section 506(c) under the Securities Act. In accordance therewith, you should be aware that (i) the securities may be sold only to “accredited investors,” which for natural persons are investors who meet certain minimum annual income or net worth thresholds; (ii) the securities will only be offered in reliance on an exemption from the registration requirements of the Securities Act and will not be required to comply with specific disclosure requirements that apply to registration under the Securities Act; (iii) the Securities and Exchange Commission will not pass upon the merits of or give its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials; (iv) the securities will be subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell their securities; investing in securities involves risk, and investors should be able to bear the loss of their investment; and (v) the securities offered will not be subject to the protections of the Investment Company Act.
Some of the statements herein may constitute forward-looking statements. These forward-looking statements may include, but are not limited to statements relating to our objectives, plans, and strategies; statements that contain projections of results of operations or financial condition or of stages of development of our products; statements relating to the research, development, and use of our products; and all statements (other than statements of historical facts) that address activities, events, or developments that we intend, expect, project, believe, or anticipate will or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, including, without limitation, regulatory risks, our ability to execute our business plan, and our ability to obtain financing on satisfactory terms, among other risk. The forward-looking statements included herein should not be regarded as a representation by MintHealth that the projected results will be achieved. We do not undertake any obligation to update any forward-looking statement.