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Bio-AMD; Legal Action Settled


12/8/2011 10:33:56 AM

LONDON, Dec. 8, 2011 /PRNewswire/ -- Bio-AMD, Inc. ("Bio-AMD" or the "Company) (OTCBB: BIAD) today announces settlement of a claim against its former legal counsel.

The Company is pleased to have satisfactorily settled its claim prior to a timetabled court hearing in 2012 which would otherwise have resulted in further cost, distraction and risk to its business. The Company now looks forward to further progressing its core medical diagnostic device operations.

About Bio-AMD, Inc.

Bio-AMD has two majority owned UK subsidiaries: Bio-AMD Limited, a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the Wocu, a global currency data reference source for application in financial markets. (www.wocu.com).

To find out more about Bio-AMD (OTCBB: BIAD), visit our websites at www.bioamd.com.

Forward-Looking Statements

Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 filed on March 23, 2011. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

CONTACT: Bio-AMD, Inc.
Tom Barr, CEO
+44 (0)8445 861 910

SOURCE Bio-AMD, Inc.



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