OTTAWA, Ontario, Nov. 22, 2016 /PRNewswire/ -- VMS Rehab Systems, Inc. reported today that the Company intends to complete the acquisition of Interactive Health Systems. Inc., a privately held US Corporation headquartered in Cheyenne, Wyoming. The all stock transaction is scheduled to be completed within 90 days.
Interactive Health Systems, Inc. is in the final stages of concluding a substantial investment in the rapidly expanding electronic health (E-Heath) segment of the health services industry.
At the same time, the company has reported that it plans to merge its newly developed quality of life home healthcare E-commerce platform into the Interactive Health Systems business on or before the end of Q1 2017 as well.
A spokesperson for VMS Rehab Systems Inc. explains that "while it has taken somewhat longer than anticipated to build out the Company's E-Commerce platform for QOL health products and at the same time, identify a synergistic partner and investment strategy for entering the E-Health digital marketplace, we are satisfied that the acquisition of Interactive Health Systems Inc. will catapult the company forward in two related and dynamic segments of the Health Industry. To be perfectly clear, what we will have here at VMS, will be the combination of two fast growing 'go to' segments of the health business -home health products and big data. Both segments represent multi billion dollar global markets, which taken in perspective with our development activities at our generic drug unit, BioPharmcor BV, can offer the potential for consolidating very substantial revenues and profitability over the medium term under the umbrella of VMS Rehab Systems, Inc."
Established in 1998, as a manufacturer and distributor of Home Healthcare products, VMS Rehab Systems, Inc. is headquartered in Ottawa, Canada and maintains affiliate offices in Amsterdam, The Netherlands and Warsaw, Poland. The shares of VMS Rehab Systems, Inc. are listed on the US OTC Pink Current Market (Symbol: VRSYF).
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE VMS Rehab Systems, Inc.