Endonovo Retains Ocean Tomo, a Part of J.S. Held, to Provide Fairness Opinion Analysis for Medical Device Spin-Off
Los Angeles, CA, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) today announced the retention of Ocean Tomo, a part of J.S. Held, to conduct a fairness opinion analysis in connection with the proposed spin-off of Endonovo’s medical device assets to a newly formed Delaware company, SofPulse, Inc.
Endonovo’s SofPulse® medical device offers patients and healthcare providers significant benefits including a viable treatment solution for post-surgical pain, edema and edema reduction that works with effectiveness, convenience, innovation and quality. All products are supported with quality customer service.
Expert Opinion
“We are pleased to be engaged by Endonovo and look forward to working to provide the board with our assessment and conclusions,” said Ocean Tomo Managing Director Greg Campanella.
Ocean Tomo, a part of J.S. Held, is a leading provider of expert opinion, management consulting and advisory services focused on intellectual property (IP) and other intangible assets. Ocean Tomo has been retained to provide Endonovo with its opinion as to the fairness of the current Fair Market Value (FMV) and purchase price of Endonovo’s medical device operating segment.
The fairness opinion will be prepared for Endonovo and referenced in filings with the Securities and Exchange Commission (SEC). It will evaluate the fairness of the terms of the proposed spin-off from a financial point of view.
Assessment forShareholders
Ocean Tomo, a part of J.S. Held, is a respected management consulting and financial services firm with deep expertise in the valuation of intellectual property, litigation and engineering. The firm has a proven track record of providing objective assessments of the fairness of transactions and has completed more than 1,000 engagements, including over 300 valuation and 500 financial damages expert testimony engagements.
Ocean Tomo’s analysis is expected to be completed in the first quarter of 2023. Once the proposed spin-off is fully structured and the necessary agreements are completed, Endonovo will prepare the appropriate filings with the SEC and provide information to shareholders.
Ocean Tomo’s Record
Ocean Tomo, a part of J.S. Held, has provided hundreds of objective assessments of the fairness of transactions. As a part of J.S. Held, Ocean Tomo works alongside more than 1,500 professionals globally and assists clients on complex technical, scientific and financial matters across all assets and value at risk.
Company services are built on more than three decades of experience in assessing intellectual property in rigorous venues. The firm's financial, market, scientific and technical experts have deep experience with tangible and intangible assets protected by intellectual property.
In retaining Ocean Tomo, Endonovo is demonstrating its commitment to acting in the best interests of their shareholders to provide a fairness opinion as an important step in the process of evaluating the Company.
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is currently structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers in the construction industry.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate", "believe", "plan", "estimate", "expect", "intend" and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations Contact:
Endonovo Therapeutics, Inc.
Steve Barnes
(800) 701-1223 Ext. 108
sbarnes@endonovo.com
www.endonovo.com
Media Contact:
Gregory A. McAndrews
Greg McAndrews & Associates
(310) 804-7037
greg@gregmcandrews.com
