Signalife Board Approves Merger
Friday July 11, 9:30 am ET
LOS ANGELES and LONDON, July 11 /PRNewswire-FirstCall/ -- Signalife, Inc. (Amex: SGN - News) announced that it has received board approval to proceed with its previously-announced merger or similar business combination with Heart One Global Research, and that a specially-formed committee has been appointed to proceed with due diligence and other matters incident to completion of the transaction. As presently contemplated, a new parent company will be established by Signalife which will simultaneously acquire the businesses of Heart One and Signalife pursuant to concurrent mergers and exchange of shares. It is anticipated that the respective businesses of Signalife and Heart One will be operated in two separate wholly-owned subsidiaries, with the subsidiary holding Signalife's current business to be managed by Signalife's current management team, and the subsidiary holding Heart One's current business to be managed by Heart One's current management team.
Under the merger agreement, all shareholders of both Signalife and Heart One Global Research must physically deliver their share certificates to an independent third party tabulator. After the merger is effected, Signalife shareholders will own 94% of the surviving company. Signalife will be announcing certain distribution and financing transactions in the upcoming weeks. Signalife shall also endeavor to follow up with short market reports on a periodic basis to track the status of these transactions and the developments that have occurred. The public is also requested to view Signalife's website in the upcoming days to track the development of this business combination.
About Signalife
Signalife, Inc. is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. Signalife uses its patented signal technology to design and develop medical devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease.
Signalife, Inc. is traded on the American Stock Exchange under the symbol SGN. More information is located at www.signalife.com. Clear Data. Trusted Results.
About Heart One Global Research
Heart One Global Research is the holding company for a number of assets, including various heart management and distribution arms worldwide and also including the renowned Health One Global, Ltd. (www.healthoneglobal.com). The latter subsidiary is the London-based international developer and distributor of information technologies that are clinically focused, mature, stable, robust, comprehensive, flexible, portable, and standards-based electronic health record solutions.
These technologies are available in Windows, Internet and USB Drive versions that can share a common record server giving maximum flexibility in implementation.
The technologies are used by about 3,000 healthcare professionals in 8 countries and in 4 languages. They have a 20-year history of continuous R&D evolution and refinement through long experience with several thousand physicians in supporting their daily delivery of healthcare in an unusually wide variety of clinical specialties, environments and organizations in multiple countries.
Caution Regarding Forward-Looking Statements
Statements in this release that are not strictly historical are "forward- looking" statements. Forward-looking statements involve known and unknown risks, which may cause the companies' actual results in the future to differ materially from expected results. Factors which could cause or contribute to such differences include, but are not limited to, failure to complete the development and introduction of heart monitoring and other biomedical devices incorporating the companies' technology procure market acceptance for these products, failure to obtain federal or state or governmental or international regulatory approvals governing heart monitoring and other biomedical devices incorporating the technology, failure to obtain import and export capabilities in the various countries containing buyers and resellers and hospitals and clinics and doctors for the devices, inability to obtain physician, patient or insurance acceptance of or for heart monitoring and other biomedical incorporating of the technologies, and the unavailability of financing to complete management's plans and objectives and the aforementioned merger agreement and its progeny, including the development of heart monitoring and other biomedical and information solutions incorporating the companies' technologies. These risks are qualified in their entirety by cautionary language and risk factors set forth and to be further described in Signalife's filings with the Securities and Exchange Commission.
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Source: Signalife, Inc.
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