Health & Fitness
Health and Fitness
Health and Fitness
Wed, December 15, 2010
Tue, December 14, 2010
Acrongenomics Signs a Memorandum of Understanding to Acquire the Majority Share of Cardioexpress Inc.
LONDON--([ BUSINESS WIRE ])--Acrongenomics, Inc. (OTCBB:AGNM) are pleased to announce that we have entered into an agreement with Cardioexpress Inc. ([ www.cardioexpress.gr ]), a leading Greek telemedicine provider, to obtain a controlling percentage of its total shares through an exchange of shares agreement.
"Both our management team and our Board of Directors believe that this cooperation is the best approach towards realizing our ambitious business plan and maximizing our global growth potential. We at Cardioexpress believe that providing innovative services is a business imperative to drive growth and differentiation."
Cardioexpress is one of the largest European telemedicine support companies having a specialised license to offer telemedicine services. Cardioexpress operates a 24/7 medical call center, comprised of general and specialist Cardiologists, providing telemedical support to rural medical centers, municipal medical centers, private and public areas of high concentration of employees and visitors, ferry and cruise companies, shipping companies, as well as individuals, for preventive or corrective purposes. Patients self perform an electro-cardiogram using a Cardioexpress telecardiograph unit with the results sent over the telephone to the Cardioexpress medical centre.
Besides the telemedicine call center, Cardioexpress has developed and works to expand a network of affiliated external physicians, nurses and land and air ambulances. The scope of such network is to be able to further support and assist insurance companies in providing home health care to their clients. On February 1, 2010, Cardioexpress signed and is currently successfully implementing its first agreement with Mondial Assistance Europe NV in Greece. Besides the importance of cooperating with a company the size of Mondial Assistance, one of the largest medical insurance and assistance services group in the world, this agreement gives Cardioexpress a afirst prioritya status, thus potentially putting it in a strategically superior position with regards to future expansion.
The MOU commits the parties to explore ways for Acrongenomics to acquire 60% of Cardioexpress, but no parameters or price are yet established.
This prospective cooperation between Acrongenomics and Cardioexpress aims to complement and further strengthen both companiesa™ financial positions. Acrongenomics is seeking to add a niche life sciences service company to its existing medical technology portfolio. Cardioexpress, a leader in its market, with best-in-class capabilities in diagnosis and medical assistance performed from a distance, will gain from the Acrongenomics business experience, resources and growth potential.
John Giakoumis, General Manager of Cardioexpress, said, aBoth our management team and our Board of Directors believe that this cooperation is the best approach towards realizing our ambitious business plan and maximizing our global growth potential. We at Cardioexpress believe that providing innovative services is a business imperative to drive growth and differentiation.a
aOur goal for diversification and expansion of Acrongenomicsa™ innovative technology portfolio is starting to become a realitya, stated Dr. Evan T. Manolis, Chairman of the Board of Acrongenomics. aBoth companies have momentum and a tremendous opportunity ahead of them. Together we will be better able to achieve our combined targets and increase value to the best interest of our stockholdersa.
About Acrongenomics Inc.
Acrongenomics Inc. is a publicly traded company that focuses on investing in and commercializing novel technology platforms concerning the Life Sciences sector. Acrongenomics brings novel and realistic concepts to market by transforming scientific innovations into tangible, consumer-orientated applications. The company has its headquarters in London, England.
Forward Looking Statement
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-Looking Statementsa within the meaning of applicable securities legislation. Forward-Looking Statements are indicated expectations or intentions. Forward-Looking Statements in this News Release include that the Company plans to acquire a majority interest in Cardioexpress; that the Transaction will close and will provide both companies the potential to realize growth and shareholder value; and that Cardioexpress has global growth potetial. Factors that could cause actual results to be materially different include that we may not be able to reach final agreement, shareholders or regulators may not approve of the agreement even if our board does, we may not be able to raise sufficient financing to complete any agreed transaction, and the resulting companies may not be successful at providing value to shareholders. Furthermore, growth depends on customer support and winning new customers, as well as market conditions, national and international medical regulations, key employees and many other variables. Investors are cautioned against placing undue reliance on forward-looking statements. The Company assumes no responsibility to update these forward looking statements.
