Applied UV (NASDAQ: AUVI), an infection control technology company that applies the power of narrow-range ultraviolet light (“UVC”) to destroy pathogens safely, thoroughly and automatically, announced the completion of the acquisition of substantially all assets of Akida Holdings LLC. The acquisition was completed by AUVI’s wholly owned subsidiary SteriLumen Inc. Akida owns the exclusive worldwide rights to a unique NASA-commissioned photocatalytic oxidation technology that is the basis of the Airocide(R) brand of medical-grade air disinfection and purification products. The technology destroys viruses, bacteria, spores and fungi as well as other carbon-based molecules. Through the acquisition, SteriLumen gains all rights to manufacture and sell the patented Airocide System of air disinfection and purification technologies. Airocide products have been a popular disinfection choice for a broad spectrum of businesses covering a variety of industries, including resorts and hotels, hospitals and nursing homes, food distribution and wine making commercial buildings as well as retail sectors. Projections for Akida’s full calendar year 2020 are estimated to be $4.7 million, with EBITDA of approximately $921,000. “The last year demonstrated more than ever the importance of innovative and comprehensive infection control solutions that protect healthcare providers, patients, and the general public,” said Applied UV CEO Q Saeed in the press release. “Since establishing a distribution agreement with Airocide last year, our appreciation has only grown for its capabilities; they represent a natural complement and extension to Applied UV’s product and service offerings, global reach, and customers. Our companies share a similar focus on infection control across a range of healthcare, hospitality, and commercial customers. Combined, we will offer a broader set of customers a more diversified selection of infection control products and services. We welcome the people of Airocide to the Applied UV team and firmly believe that together, we will create greater value for our customers and shareholders.”
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About Applied UV
Applied UV is focused on the development and acquisition of technology that address infection control in the healthcare, hospitality, commercial and municipal markets. The company has two wholly owned subsidiaries — SteriLumen Inc. and Munn Works LLC. SteriLumen’s connected platform for Data Driven Disinfection(TM) applies the power of ultraviolet light (“UVC”) to destroy pathogens safely, thoroughly and automatically, addressing the challenge of health-care-acquired infections (“HAIs”). Targeted for use in facilities that have high customer turnover such as hospitals, hotels, commercial facilities and other public spaces, the SteriLumen platform uses UVC LEDs in several patented designs for infection control in and around high-traffic areas including sinks and restrooms, killing bacteria, viruses and other pathogens residing on hard surfaces within devices’ proximity. The company’s patented in-drain disinfection device is the only product that addresses this critical pathogen intensive location. SteriLumen devices were tested at an independent laboratory and found to be effective in killing the OC43 human coronavirus, a strain structurally and genetically similar to SARS-CoV-2. SteriLumen was formed in 2016 by the founders of MunnWorks, manufacturer of fine mirrors for the hospitality industry, to provide novel, easy-to-deploy and effective devices to protect vulnerable populations from dangerous infections, providing a compelling solution for the hospitality space and a solid path to entering the healthcare market. For more information about Applied UV, please visit www.AppliedUVInc.com.
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