MHCC News! Possible bounce play--
Millennium Healthcare, Inc. Signs Exclusive Letter of Intent to Acquire HealthPath, LLC
Jul 06, 2015
OTC Disclosure & News Service
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Millennium Healthcare, Inc. Signs Exclusive Letter of Intent to Acquire HealthPath, LLC
MELVILLE, NY--(Marketwired - Jul 6, 2015) - Millennium Healthcare Inc. (OTCQB: MHCC), a developer and distributor of healthcare services and medical devices, today announced that it has signed an exclusive Letter of Intent (LOI) to acquire the business of HealthPath, LLC.
The parties have initiated an exploratory period of due-diligence, which is intended to result in a definitive asset purchase agreement. Management expects the acquisition to close within 15 days.
"We are excited to engage in an exclusive LOI with HealthPath," said Noel Mijares, CEO of Millennium Healthcare.
Mijares added, "We are actively looking for companies that are synergistic with our existing business lines and have experienced management teams. This acquisition significantly strengthens our market-share position. HealthPath meets these goals, and we are confident that this acquisition will provide value to our shareholders."
Ms. Maureen Walsh, Principal Member of HealthPath LLC, said, "We believe that the common denominator between the companies' respective service offering is preventative health. Since our cloud based solutions align our financial interests with healthcare providers as well, we see a lot of intrinsic value in the acquisition."
About Millennium Healthcare Inc. (www.millenniumhcs.net)
Millennium Healthcare Inc., through its wholly owned operating subsidiaries, provides primary care physician practices, physician groups and healthcare facilities of all sizes with cutting-edge medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing and coding services, and practice development and management services. For more information, please visit www.millenniumhcs.net.
About HealthPath, LLC
HealthPath LLC delivers cloud-based software for Medicare's Annual Wellness Visit. It offers the Well Path System that enables healthcare providers to establish a very substantial and recurring income stream, and Well Path Plus, a solution that facilitates the efficient delivery of annual wellness visits while collecting ICD-10/HCC codes for accurate risk adjusted payments. The company's solutions enable a physician or non-physician practitioner to conduct two to three wellness visits per hour and to identify preventive services and other clinically indicated tests. It serves primary care physicians, multi-specialty practices, hospitals and healthcare systems, accountable care-organizations, clinically integrated networks, MA Plans, nursing homes/ALFs, skilled nursing facilities, healthcare clinics, home healthcare companies, IPSs, and senior communities.
