Form 8-K - Current report

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) January 30, 2024

 

HEALTHCARE TRIANGLE, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		001-40903		84-3559776
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

7901 Stoneridge Dr., Suite 220 Pleasanton, CA 94588

(Address of principal executive offices)

 

(925)-270-4812

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.00001 per share		HCTI		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 1.02 Termination of a Material Definitive Agreement.

 

On January 30, 2024, Devcool, Inc. (the “Supplier”), a wholly-owned subsidiary of the Healthcare Triangle, Inc. (“HCTI” or the “Company”) received a letter from Guidant Global Inc. (“Guidant”), terminating the Supplier Master Services Agreement (the “Agreement”) by and between Guidant and the Supplier, regarding the Supplier’s services to City of Hope National Medical Center, City of Hope Medical Foundations, Beckman Research Institute of the City of Hope, and City of Hope effective February 04, 2024.

 

The Company is currently assessing the materiality of the termination of the Agreement and the impact of the potential termination. A copy of the termination letter is filed with this report as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number		Description
99.1		Termination Letter, dated as of January 30, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Healthcare Triangle, Inc.
Date: February 2, 2024	By:	/s/ Thyagarajan Ramachandran
	Name:	Thyagarajan Ramachandran
	Title:	Chief Financial Officer

 

 

2

 

Exhibit 99.1

 

 

January 30, 2024

 

Devcool Inc

5890 Stoneridge Dr #107

Pleasanton, CA 94588

 

RE: Termination of Staffing Company Agreement between Guidant Global, Inc. and Devcool Inc

 

Dear Supplier:

 

The purpose of this letter is to provide Devcool Inc (“Supplier”) with notice of Guidant Global Inc.’s (“Guidant”) termination of the Supplier Master Services Agreement entered into between Guidant and Supplier on August 10, 2021 (as amended, the “Agreement”) regarding Supplier’s provision of contingent workers to City of Hope National Medical Center, City of Hope Medical Foundations, Beckman Research Institute of the City of Hope, and City of Hope.

 

Guidant is terminating the Agreement for its convenience pursuant to Section 1.2.2 of the Agreement. Supplier will receive no new business effective immediately. Supplier must satisfy any and all continuing obligations under the Agreement that survive termination.

 

Guidant Global will be scheduling a call to discuss options for your active worker population and partner together to minimize disruption to City of Hope. Termination of the contractual relationship will be effective February 04, 2024, to allow for the agreed upon transition of workers. Should all workers’ assignments end before such date, the Agreement will terminate as of that date.

 

We wish Supplier success in its future endeavours. If you have any questions or concerns, please contact Katrina James at [e-mail].

 

/s/ Beth Armesto
Beth Armesto
Director, Supplier Relationship Management
Guidant Global

 

 

 

Cover	Jan. 30, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 30, 2024
Entity File Number	001-40903
Entity Registrant Name	HEALTHCARE TRIANGLE, INC.
Entity Central Index Key	0001839285
Entity Tax Identification Number	84-3559776
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	7901 Stoneridge Dr.
Entity Address, Address Line Two	Suite 220
Entity Address, City or Town	Pleasanton
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94588
City Area Code	925
Local Phone Number	270-4812
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.00001 per share
Trading Symbol	HCTI
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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