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Modern Medical Modalities (MODM.OB) Enters Into Letter Of Intent To Acquire Medical Software To Enhance Its Enterprise-Wide Management Services System


2/22/2007 1:05:51 PM

UNION, N.J.--(BUSINESS WIRE)--Modern Medical Modalities Corporation (OTCBB:MODM) a comprehensive healthcare diagnostic imaging services company (DIS) today announced it has entered into a Letter of Intent with MTI-II Partners, L.P. (“MTI-II) to acquire its Medical Software in exchange for 1 million shares of MODM’s common stock based on the closing market price of $0.73 per share as of February 14, 2007. The acquisition will be made in accordance with the terms and conditions of a mutually acceptable Definitive Software Acquisition Agreement between MODM and MTI-II.

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