$23M Tampa health firm pursues deal for telehealth, drone delivery tech

A $23 million Tampa-based healthcare technology and pharmaceutical company is pursuing a package of technology licenses and acquisitions that would allow it to add virtual care, prescription drug telehealth and medical drone delivery services to its growing business. 

DataMEDS AI, a Nasdaq-listed company, announced Thursday that leadership has signed an amended, nonbinding letter of intent with several other healthcare companies. The deal outlined in the letter would allow it to acquire or license different programs facilitating patient goal tracking, biometric identification, automated medication delivery by drone and health data management, DataMEDS says. 

The new letter of intent comes the same week the FDA issued new guidance providing a clear framework for drug companies to develop, distribute and label apps used alongside prescription medicines, the company says. 

The letter also includes a plan for DataMEDS AI to acquire a controlling interest in Tollo Health, a Tampa-based biotechnology company that created the “Health Lives Here” mobile app with both DataMEDS and NFL Alumni Health, from HealthBridge Advisors. In addition to its technological offerings like the app, Tollo Health also manufactures medical foods for GLP-1-associated muscle loss, acute viral infections and chronic viral infection syndromes, as well as a portfolio of dietary supplements.

Philadelphia-based Datavault AI, one of the partners in the letter of intent, would receive a 19.9% ownership stake in DataMEDS AI on a fully-diluted basis in exchange for expanding an existing technology license. Datavault would retain ownership of its underlying technology while DataMEDS would cover commercialization costs, the letter says. The proposal also outlines plans for a Datavault designated director to join DataMEDS’ board. 

DataMEDS, formerly Wellgistics Health, changed its name and Nasdaq trading symbol in July, according to a securities filing. Its stable of companies includes pharmacy dispensing, pharmaceutical distribution and health technology, the announcement says. 

The news comes on the heels of DataMEDS’ announcement earlier this month that it would be reducing corporate management positions, enforcing “cost controls” and refocusing its remaining workforce on commercializing ChemoFX, a laboratory test that helps oncologists choose the right chemotherapy regimens for patients. 

The new letter of intent replaces a July letter that expired on Sept. 30, the announcement says. DataMEDS is targeting a fourth-quarter closing, subject to final agreements, due diligence, a fairness opinion, a Nasdaq review and several other conditions. 

DataMEDS AI reported $23.34 million in revenue for the 2025 fiscal year, a nearly 29% increase over its $18.13 million revenue reported in the 2024 fiscal year.