Medical isotope producer Advanced Medical Isotope (AMIC) has joined with Spivak Management (SMI) and Mann Healthcare Partners to form a joint venture for the two companies to develop and execute AMIC's business strategy.
SMI and Mann Healthcare will consult for AMIC for five and three years, respectively, and assist the company with strategic advice, business transactions, and board representation. Mann Healthcare will also look for potential investors.
AMIC will pay a consulting fee of approximately $200,000 to SMI and, if AMIC secures financing through the joint venture, AMIC will reimburse certain expenses of SMI and Mann Healthcare and will pay annual compensation to SMI and Mann Healthcare.
