Inovytec Medical Solutions Ltd. announced that it has entered into an agreement with new investor, Vincent Medical Holdings Limited (SEHK:1612) for a private placement of 12,091 series A preferred shares at a price of $248.09 per share for gross proceeds of $2,999,656.19 on January 24, 2017. The investor will acquire 15% stake in the company. The company will complete the transaction in three tranches with a first tranche of 7,255 shares for proceeds of $1,799,892.95 payable upon execution of the agreement, a second tranche and third tranche of 2,418 shares each for proceeds of $599,881.62 payable upon the company achieving relevant sales target.