HNSO...$10,000,000.00 !!!
News for 'HNSO' - (Healthnostics Acquires Significant Ownership Interest in GMD, Inc., A National Consumer Diabetic Supply and Education Services Company -GMD Forecasts Annual Revenue of $10,000,000 by Fiscal Year End of June, 2008.
NEW YORK, Apr 01, 2008 (BUSINESS WIRE) -- Healthnostics, Inc. (OTC: HNSO), a
medical and biotechnology analytics information and technology company,
announced it has signed a definitive agreement to acquire a significant interest
in GMD, Inc., ("GMD") a nationwide Durable Medical Equipment provider
specializing in direct to consumer diabetes supplies. GMD is currently forecast
to generate $10,000,000 in revenue by fiscal year end in June 2008 on a
profitable basis.
The acquisition, which will be paid for with Healthnostics Rule 144 restricted
common stock, will constitute approximately 40% of the outstanding common stock
on a fully diluted basis after acquisition completion. This transaction will
bring Healthnostics shareholders a marked increase in shareholder value by
substantially increasing the Company's net worth. Moreover, the acquisition will
represent a predictable revenue stream that will assist Healthnostics in growing
its core businesses.
Alan Grofe, President of Healthnostics, will serve as CEO of GMD.
"GMD represents an unprecedented opportunity for us to become involved with a
well managed and profitable company that is synergistic with our expertise in
the healthcare industry. We strongly believe in endeavors that make a difference
in the delivery of healthcare products and information, and this certainly fits
into that mission," stated President Alan W. Grofe.
"We continue to execute on our strategic goal of growth through acquisitions and
also plan, as previously reported, to obtain listing on the Over-the-Counter
Bulletin Board as expeditiously and practically as possible."
About GMD, Inc.
Global Medical Direct is a nationwide Durable Medical Equipment provider
specializing in direct to consumer diabetes supplies. The Company provides
diabetes products and educational services to help patients lead healthier and
more productive lives. The Company's products include blood glucose meters, test
strips and ancillary supplies, insulin pumps and supplies, diabetic shoes and
orthopedic inserts and diabetes maintenance medications.
For further information please visit Global Medical Direct
www.globalmeddirect.com.
For further information please visit Healthnostics www.healthnostics.com,
MedBioWorld www.medbioworld.com, MedNets www.mednets.com, and FamilyMedicalNet
www.familymedicalnet.com.
This press release may contain certain statements that are not descriptions of
historical information, but are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of
1934. These forward-looking statements refer to matters that involve risks and
uncertainties. Such statements reflect management's current views and are based
on certain assumptions. Actual results could differ materially from the
assumptions currently anticipated.
SOURCE: Healthnostics, Inc.
CONTACT: DeMonte AssociatesCynthia DeMonte, 917-273-1717cdemonte@demonte.com
Copyright Business Wire 2008
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