By having ESI spun out, ESI can now be acquired standalone without the HP. If interested in the ESI technology but not the HP they will not have the added cost of acquisition for something that doesn't fit their needs or the resistance of AEMD against acquisition due to AEMD not wanting to sell the HP technology. I believe the value of ESI can now be determined on it's own merit and not with AEMD as a whole.
This could make the whole company more valuable in the long run having it's technology sectors broken up into different parts while also allowing AEMD to sell ESI if wanted to gain needed funds for trials, costs to gain approval for commercialization, marketing/promotion and manufacturing of the HP.