Meta Health (SGX:5DX) provided an update on an out-of-court settlement agreement with Vasanthan Metupalle, former chief medical officer of 5Digital, and Jagannathan Padmaja Sakthi, former director of Gainhealth, according to a Friday filing on the Singapore Exchange.
The agreement required Metupalle and Sakthi to pay the second tranche of an agreed settlement amount of SG$337,000 by Dec. 31, 2024. However, no payment has been made, breaching the terms of the settlement.
The company and its subsidiaries, Gainhealth and 5Digital, are evaluating legal options to recover the outstanding amount.
In a separate update, the board confirmed that the working capital is sufficient to meet the company's needs, taking into account its internal resources, operating cash flows, and ongoing financial support from a controlling shareholder.
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