American Diversified Holdings Corporation Reaches Agreement To Acquire Brazos Biomedical, LLC
DEL MAR, Calif., April 2, 2018 /PRNewswire/ -- American Diversified Holdings Corporation (OTC PINK: ADHC) announced today it has reached an agreement to acquire Brazos Biomedical, LLC (BRAZOS), a biomedical device development company based in Houston, TX. Terms of the agreement, which included cash and equity, were not disclosed pending completion of standard due diligence.
BRAZOS has a proprietary device (AURACIS™) in pre-clinical development to treat headache pain using transcutaneous electrical nerve stimulation (TENS) technology. AURACIS™ is a new approach to treating migraine using TENS technology to stimulate multiple cranial nerves to alleviate migraine pain. AURACIS™ is placed on the head and with electrodes located at key points delivers mild electrical impulses that mute the pain signals typically associated with migraine headaches. David Foster, Ph.D., J.D. of BRAZOS said, "AURACIS™ has tremendous potential to alleviate suffering in people who suffer from migraine headaches. Our proprietary technology most closely mimics the most effective treatment for migraine at a fraction of the cost and without the risks of surgical implants."
Approximately 100 million people in the US experience headaches and more than a third are migraines. Migraine occurs three times more frequently in women than in men and is the third most prevalent and sixth most disabling disease in the world. Most migraines are self-treated with over-the-counter medications that are marginally effective in the majority of cases. Many prescription drugs are also utilized with varying success. The most effective treatment involves the surgical implantation of electrodes which has a reported 80-90% success rate but can cost in excess of $50,000 and is associated with risks common to surgery including infection.
ADHC commented, "The acquisition of BRAZOS is a very significant milestone for the Company. The AURACIS™ device has the potential to transform an unmet medical need for migraine sufferers using a base technology (TENS) that has been used clinically for over twenty years and is generally regarded as safe." ADHC continued, "The acquisition is designed to accelerate product development and to provide resources for future product innovation and development."
For more information: www.brazosbio.com
About American Diversified Holdings Corporation
ADHC is a holding company that provides executive management, corporate governance, administrative support, financial advice, and introductions to capital sources to various micro-cap private and public companies that have proven revenues and business models.
About Brazos Biomedical, LLC
Brazos Biomedical is a biomedical device development company utilizing electrostimulation for pain management to improve patient outcomes through creative innovation with a core competency in the migraine and headache pain space.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the Company's plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. American Diversified Holdings Corporation (ADHC) common stock currently trades on the over-the-counter under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of ADHC, and no reference has been made that this release contains all information
American Diversified Holdings Corporation
PO Box 2568, Del Mar CA 92014
Tel: 858 259 4534
SOURCE American Diversified Holdings Corporation