Suetta, don't forget about this one which also has a LOI signed and in the works, and there are more to come!
Repost of old news, just to keep it fresh!
Medex, Inc. to Acquire BEE Mobile, Inc.
Medex, Inc. (MDXX:PK), today announced the signing of a binding letter of intent to acquire privately held BEE Mobile, Inc. Founded in 2008 and headquartered in San Diego, CA, Medicare accredited BEE Mobile services and rents power wheelchairs and scooters as well as high end rehabilitation equipment.
Terms of the transaction were not disclosed but will consist of a combination of cash and Medex, Inc. restricted shares. (There will be no dilution to the existing shareholders.) Closing of the transaction is expected within two weeks.
“The BEE Mobile acquisition is expected to produce 2010 annual revenue of $1 million and net earnings of approximately $400,000 from a single location. A second facility is expected to open in June 2010,” said Mr. Marco Montenegro, Chairman and CEO of Medex, Inc. “Complementing the previously announced Creative Rehab Technology Services transaction, BEE Mobile will expand Medex's offerings into the burgeoning wheelchair and scooter repair and rental markets. We welcome BEE Mobile, Inc. to the growing Medex portfolio of companies.”
About Medex, Inc.
Medex, Inc. is a development stage Nevada-based medical support services company, which plans to grow through acquisitions of medical supply companies, medical technology companies, and assisted living and care facilities worldwide. For additional information, see www.medexsynergies.com.
Forward looking statements:
The statements made in this press release, which are not historical facts, may contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other matters pertaining to the company. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the reasonable judgments of company management as of the date of this release, actual results may differ due to business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, access to outside capital
Be fearful when others are greedy, be greedy when others are fearful.
