MATAWAN, NJ--(Marketwire - February 19, 2010) - Thomas Pharmaceuticals, Ltd. (OTCBB: TPHM)
announced today that it has entered into a non-binding Letter of Intent to
merge with Global Medical Equipment of AZ, LLC. ("Global Medical"). The
closing is subject to: (i) to satisfaction of due diligence investigations
by all of the parties, (ii) negotiation and execution of a definitive
agreement, (iii) approval by Thomas Pharmaceuticals' shareholders, (iv)
completion of an audit of Global Medical (v) the completion of certain
financing commitments for the post-merger Company and (vi) certain other
conditions precedent to closing. It is anticipated that this transaction
will close in the second quarter 2010. The merged company will continue to
trade on the OTC Bulletin Board.
Global Medical is involved with launching a series of patented products
servicing home and institutional health care, specialty medical facilities,
acute care facilities, and elder care. Global Medical is implementing a
growth strategy of acquiring Medicare accredited durable medical equipment
("DME") companies to create a direct distribution network.
"We have a number of different products and marketing opportunities
representing the business's growth strategy. Our Company continues to field
additional inquiries regarding representation of other products creating
vertical opportunities within markets already penetrated," stated President
and CEO, Harold Halman.
Core products include a hospital bed with multi-facet features that may
eliminate bed sores, scooter lifts, along with a full line of mobility
products with complimentary accessories involving all levels of DME
Certain information included in this press release may contain
forward-looking statements about our current and expected performance
trends, growth plans, business goals and other matters. These statements
may be contained in our filings with the Securities and Exchange
Commission, in our press releases, in other written communications, and in
oral statements made by or with the approval of one of our authorized
officers. Information set forth in this press release contains various
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. The Private Securities Litigation Reform Act of 1995 (the "Act")
provides certain "safe harbor" provisions for forward-looking statements.
The reader is cautioned that such forward-looking statements are based on
information available at the time and/or management's good faith belief
with respect to future events, and are subject to risks and uncertainties
that could cause actual performance or results to differ materially from
those expressed in the statements. Forward-looking statements speak only
as of the date the statement was made. We assume no obligation to update
forward-looking information to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
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use of terms such as "anticipate," "believe," "could," "estimate,"
"expect," "intend," "may," "might," "plan," "predict," "project," "should,"
"will," and similar words, although some forward-looking statements are
expressed differently. Although we believe that the expectations reflected
in such forward-looking statements are reasonable, we can give no assurance
that such expectations will prove to be correct.