HFCO NEWS 5/20: HFCO to Acquire Clinical Research Organization in Strategy Shift
HOUSTON, TX / ACCESSWIRE / May 20, 2015 / Hydrogen Future Corp. (PINKSHEETS: HFCO) announced today that it has signed a Letter of Intent to acquire Clinical Research Southeast, Inc. ("CRS"). CRS was formed to aggregate and operate existing clinical research organizations in the U.S. southeast.
CRS has assembled an experienced management team with significant capacity to manage company operations. It is their goal to centralize multi-site CRO's to provide large-scale, outsourced clinical trial services to pharmaceutical, biotech, medical device companies and other research organizations.
CRS recently completed its first acquisition in its aggregation plan with the purchase of Phase One Solutions, Inc. ("Phase One"), a CRO which provides high quality phase one clinical testing services. Its 140-bed facility with dedicated staff is one of the largest in-house clinical research sites in the southeast. With an in-house lab and pharmacy, Phase One has the ability to cut costs and expedite study timelines.
HFCO believes that CRS's management team, significant revenue and cash flow strongly favor the success of their aggregation strategy.
HFCO will seek a buyer for its wholly owned subsidiary, Hydra Fuel Cell Corp.
Safe Harbor Statement
The statements in this release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
For more information about HFCO, please contact:
Frank Neukomm or Bob Farr at 281-436-6036 and leave a message.
www.hydrogenfuturecorp.com
For more information about CRS, please contact:
Conrad Huss
Chief Financial Officer, at 212-994-9873 and leave a message.
SOURCE: Hydrogen Future Corp.
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