Thomas Pharmaceuticals to Merge With Global Medical Equipment, Inc. of AZ
Published: Feb 19, 2010
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 solutions.
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 information. Forward-looking statements are typically identified by the 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.
President - CEO
Global Medical Equipment of AZ
480-216-2600 - Phone
harold.halman - Skype