VSee Health Completes Strategic Transaction with VSee Lab
VSee Health announced the completion of a strategic transaction that separates the company from its former laboratory subsidiary, VSee Lab, eliminates a significant block of outstanding shares, and positions VSee Health to focus exclusively on its core telehealth and digital health platform businesses. Under a Stock Purchase Agreement dated May 31, VSee Health sold 100% of VSee Lab to former Co-CEO and Chairman Milton Chen. In connection with the transaction, Chen transferred all 2,870,069 shares of VSee Health common stock owned by him back to the company and assumed responsibility for the remaining liabilities of VSee Lab following closing. The returned shares represent approximately 7% of the company's outstanding common stock and are expected to significantly improve shareholder alignment while simplifying the company's capital structure. Concurrent with the closing, Chen resigned as Co-CEO and Chairman of the Board. Imoigele Aisiku has assumed the roles of sole CEO and Chairman of the Board and will lead the next phase of the Company's growth strategy.