Careteq Limited is divesting its Sofihub business to accelerate its path to profitability

Careteq Limited (ASX: CTQ) announced the divestment of its Sofihub business, a strategic move aimed at propelling the Company towards its target of 15,000 subscribers for its assistive living technology suite. This divestment is projected to boost annualized net operating cash flow by AU$0.8 million, driving the Company closer to profitability in core services.

Anticipated to be finalized in early August 2024, this decision underscores its unwavering commitment to growth and innovation. With an enhanced focus on consolidating the core services on medication management, it is positioned to build a highly profitable business within the group.

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