DELRAY BEACH, Fla. , Sept. 30, 2024 /PRNewswire/ -- UpHealth, Inc.
("UpHealth"), a leading provider of behavioral health solutions, announced that its wholly-owned subsidiary, UpHealth Holdings, Inc. ("UpHealth Holdings"), has achieved a major legal victory in the U.S.
District Court for the Northern District of Illinois (the " Illinois Court"), as the Illinois Court confirmed an arbitration award issued by the International Court of Arbitration of the International Chamber of Commerce (the "ICA Final Award") in favor of UpHealth Holdings. The ICA Final Award arises out of a Share Purchase Agreement (the "SPA") between UpHealth Holdings, the Respondents and Glocal Healthcare Systems Private Limited ("Glocal"). The Illinois Court confirmed the ICA Final Award against Dr.
Syed Sabahat Azim , Ms. Richa Sana Azim , Mr. Gautam Chowdhury , and Kimberlite Social Infra Private Limited (the "Glocal Respondents,"), while vacating the ICA Tribunal's finding of liability on the part of a fifth Respondent, Mr.
Meleveetil Damodaran (together with the Glocal Respondents, the "Respondents"), and remanding to the ICA Tribunal only with respect to the single issue of Mr. Damodaran's liability for UpHealth's damages. The Illinois Court ruling follows an earlier ruling, on April 12, 2024 , by the Calcutta High Court, which previously directed the Respondents to fully disclose their assets, liabilities, and pending litigations related to the ICA Final Award.
"We are extremely pleased with the Ill.
