Ault Glazer & Co., Inc. Makes Minority Investment in PerGenix, LLC
Jun 17, 2008 12:02:01 (ET)
LOS ANGELES, Jun 17, 2008 (BUSINESS WIRE) -- Ault Glazer & Co., Inc. (Pink Sheets: AULT) ("AGC") announced today Ault Glazer & Co., Inc. is investing in PerGenix, LLC, a private company founded one year ago.
The Founder and CEO, Mr. Robert Case, has an extensive background in the medical device and diagnostics field, and is bringing that experience to this new venture. The firm anticipates FDA clinical field testing of their product in the first quarter of 2009.
The CEO of Ault Glazer & Co., Inc., Mr. Milton "Todd" Ault, III believes that this product holds huge promise. "We are incredibly impressed with Robert's 30 years of experience and knowledge in the diagnostics arena, and are excited to invest in a company that can provide lab quality testing in the convenience of a patient's home."
"There must be clear actionable benefit from diagnostic testing for the home testing consumer and chronically ill patient," said Mr. Case. "This will require more understandable, accurate and robust home testing than current methods can provide. We believe this can be achieved through the wireless integration of the clinical lab into the testing regime to ensure the validity and interpretation of test results, followed by immediate and direct delivery of the results to both the consumer/patient and physician. Our unique offering seamlessly integrates these benefits into the consumer/patient's life without the current time and cost of the laboratory visit or physician appointment."
Ault Glazer & Co., Inc. expects to make additional investments in the coming months in various industries.
Terms of the transaction were undisclosed. More information on Ault Glazer & Co. can be found at www.aultglazer.com .
About PerGenix LLC
PerGenix develops and manufactures low cost, rapid, lab-quality diagnostics for the professional and consumer diagnostics market. The proprietary PerGenix Platform, usable at home or in clinics, will seamlessly and securely connect home testing consumers, retail clinics and chronically ill patients with licensed clinical labs, their physicians, peer reviewed Healthcare 2.0 databases and on-line electronic medical records. Diagnostic applications span healthcare screening, disease identification and disease monitoring.
About Ault Glazer & Co., Inc.
Ault Glazer & Co., Inc. ( www.aultglazer.com ), a holding company, which through its wholly-owned subsidiaries and minority interests, is engaged in a number of diverse business activities, which include: merchant banking; corporate lending; shareholder activism; Internet sales and marketing; real estate; healthcare; energy; consumer products & services; insurance and media.
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