SUN VALLEY, CA--(Marketwire - October 01, 2009) -
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XTend Medical, (PINKSHEETS: XMDC), a company specializing in manufacturing and distributing the latest in telemedicine and diagnostic devices, announced today the company has signed a Letter of Intent to Merge with BioHarp Korea, a division of Uni Bio-Tech, Inc, a Seoul, Korea based developer and manufacturer of medical imaging devices. Under the terms of the merger, BioHarp Korea will transfer all patents, software, assets, and proprietary information relating to the BioHarp Nano Sensor imaging device. Upon completion of the merger, the combined company will apply for a name change from XTend Medical to BioHarp Uni, US, and will effectuate a new trading symbol and cusip number. The share structure of the company will remain in effect with no changes anticipated.
BioHarp is a cutting-edge medical imaging device that utilizes a non-invasive approach to detect inflammation in the human body on a cellular level. The device uses a complex scanning program that deciphers inflammation in the body’s organs through a bio-sensory system and allows early detection and diagnosis of potentially life threatening diseases. This hand-held diagnostic device is the first of its kind that can effectively scan the body and deliver a comprehensive report that can assist any physician in determining the proper course of treatment for patients in the EARLY STAGES of potentially life threatening diseases.
Unlike CT Scans, MRIs and other similar testing devices, the BioHarp penetrates to the cellular level to detect inflammation differences in the cells. The resulting scan of the body can detect early disease states such as diabetes, liver damage, and other organ problems that, when treated at this early stage, can assist managed care companies, physicians, and insurance companies in increasing morbidity rates and lowering health costs significantly.
The U.S. National Science Foundation has predicted that the market for nanotechnology, or products containing nanotechnology, will reach $1 trillion in 10 to 15 years. Rising medical costs, demands for less-invasive procedures and pressures for immediate feedback of medical conditions, all point to nanotechnology as offering a new approach in healthcare.
“The management at XTend has been working diligently on this merger for the past 9 months to insure we create a powerful opportunity for the company to have a clear manufacturing partner, cutting-edge medical device, and the market whereby we can sell this device globally to healthcare organizations and countries looking to detect early signs of diseases that will save lives and lessen costs associated with treating these diseases,” stated Mr. Paul Lisenby, CEO of XTend Medical. Mr. Lisenby further states, “The BioHarp has gone through several revisions and is now ready to go into full production. The device is not only intended for humans, but the application has shown that animals can benefit from this technology as well. Our goal is to get this device into the hands of physicians, veterinarians, and other professionals that understand the technology can detect, on a molecular level, inflammation that can lead to serious health problems. We will market this product aggressively and have already been contacted by several countries in Asia and Europe that are interested in making the BioHarp part of their national healthcare program. We’re very excited to work closely with the doctors and scientists associated with the BioHarp unit in Korea to continue to upgrade the unit for potential use by the general public. We expect to finalize this merger in the next thirty to sixty days.”
The company is currently updating their website. www.xtendmedical.com.
About XTend Medical
XTend Medical is a company that specializes in the manufacturing and distribution of the latest in telemedicine and telehealth solutions for the healthcare industry. Their dedication to insuring the products and services offered to healthcare organizations, third-world countries, and physician groups are at the forefront of medical technology. Their continued efforts in identifying global companies with true product potential in the healthcare industry puts them in an advantageous position to capitalize on a global basis. For further information, please contact them at info@xtendmedical.com
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words “plan,” “expect,” “believe,” and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.
CONTACT
XTend Medical Corporation
info@xtendmedical.com
