NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Andover Medical, Inc. (AMI) (OTCBB: ADOV.OB), today announced that it entered into a reorganization agreement on August 31, 2006, to spin off the businesses of the company’s former entity, Snow & Sail Sports, Inc., replace its management and change its corporate name to Andover Medical, Inc.
Andover Medical, Inc. (AMI) is building a single source provider of orthopedic, podiatric and urological durable medical equipment and incontinence treatment solutions. Through our future nationwide subsidiary network, we will offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products.
AMI has engaged a New York based firm, as its investment bankers. The company will be seeking to complete a bridge financing and a subsequent Series A financing. The proceeds will be used by AMI to further the company’s business plan.
About Andover Medical, Inc.
Andover Medical, Inc. (AMI) is building a single source provider of orthopedic, podiatric and urological durable medical equipment and incontinence treatment solutions. Through our future nationwide subsidiary network, we will offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products. For more information, please call (978) 557-1001 or visit www.andovermedical.com.
Forward-Looking Statements
This press release contains “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. All statements other than statements of historical facts included in this press release are forward-looking statements. All forward-looking statements speak only as of the date of this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of AMI and its affiliates to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors, which could impact the company and the forward-looking statements contained herein are included in the company’s filings with the Securities and Exchange Commission. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Contacts
Andover Medical, Inc. Edwin Reilly, 978-557-1001 ext. 11 ereilly@andovermedical.com
