Australia's AtCor Medical Holdings Ltd. plans to change its name to CardieX Ltd. to start its repositioning effort as a global health technology provider.
The name change remains subject to shareholder approval.
The company, which markets medical devices for cardiovascular management, also entered into a development and collaboration agreement with Blumio Inc., a privately held developer of wearable blood pressure monitors.
Under the agreement, San Francisco-based Blumio may integrate AtCor's intellectual property and patents into its products. The companies will also develop new technology applications for the sensor-based detection of cardiovascular diseases.
Additionally, AtCor agreed to acquire 7.5% of Blumio through a potential investment of up to $600,000.
"Our partnership and investment in Blumio will position us at the center of excellence in Silicon Valley and allow us to leverage our IP and patents into new wearable and consumer platforms," AtCor CEO Craig Cooper said in a news release.
