PR about LOI in September ~ Record Volume on Friday. Tight float... could be a nice runner come Monday ~
ECash Inc. Signs Letter of Intent to Acquire MetaHealth Inc. Assets
Las Vegas, NV, Sep 16, 2009 (PRWeb.com via COMTEX) -- ECash (ECSI.PK) today announced that they have signed a letter of intent with Metahealth Inc. to acquire the company's assets.
The acquisition is the next step for ECash as they enter the health care supply industry. As the Baby Boomer generation begins reaching age 65 by or before 2011, the healthcare industry will increasingly demand greater amounts of medical equipment and health care supplies. ECash intends to invest in one of the most lucrative areas of health care as the country's largest demographic reaches old-age.
Metahealth, Inc. is a pharmaceutical development company whose mission is to develop, manufacture and market a wide range of generic prescription drug products for the health care market.
"The acquisition of Metahealth is a big step forward in our company's development," said Christian Diesveld, VP Business Development of ECash. "Metahealth is aptly positioned to benefit as brand name drugs lose their market exclusivity through patent expiration."
Metahealth is currently active in the following areas: central nervous system drugs such as anti-convulsants and anti-psychotics, topical dermatology drugs such as topical antibiotics, anti-fungals and anti-inflammatories, hormonal drugs such as steroidal treatments and a variety of other drugs.
Generic pharmaceuticals play a large role in health care systems as many governments encourage and require the use of generic substitutes in order to control costs.
Closing is anticipated within the next three to four weeks once management completes due diligence.
Contact:
Kevin Mercuri E Cash Inc. 212-901-6914 x701
Cautionary Statements Concerning Forward-Looking Information This press release contains forward-looking statements regarding the current expectations of ECSI. Such forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties. Actual results may differ materially from those described in such forward-looking statements as a result of various factors. ECSI does not undertake any obligation to update the forward-looking statements contained herein, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
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