Ostara Corporation Acquires Control of Rheologics Inc.
Tuesday August 9, 1:12 pm ET
WERNERSVILLE, Pa.--(BUSINESS WIRE)--Aug. 9, 2005--Ostara Corporation (OTC:OTRC - News) is pleased to announce that it has acquired majority control of Rheologics Inc. located in Exton, PA.
Rheologics Inc. is pioneering a new standard of care in the prevention and treatment of the leading causes of morbidity and mortality worldwide. The company is the leader in the study of the dynamics of blood flow and its impact on vascular-related and other diseases. Rheologics' breakthrough product, the Rheolog(TM), is the first device capable of generating a comprehensive rheologic profile for use at the bedside or in clinical laboratory settings to measure the viscosity of blood.
Alfonso C. Knoll states, "We are excited to announce that Ostara has successfully acquired over 90% of Rheologics and we are looking forward to working with Dr. Kensey, one of the most innovative and respected cardiologic research experts in the world. We believe this acquisition has poised Ostara to become a major force in the preventative diagnosis and treatment of cardiologic and other vascular disease. Everybody involved has worked hard to make this happen and we are committed to seeing Rheologics become the preeminent name in hemorheology."
Rheologics is committed to developing and commercializing innovative medical products that significantly improve the diagnosis and treatment of human disease and assist in the development of new drug compounds. They are accomplishing their mission by monitoring an overlooked basic physiological parameter -- whole blood viscosity. They believe that Rheologics' innovations will ultimately enable the rapid diagnosis of diseases and the development of new cost-effective therapies, thereby improving the quality of life for millions of people worldwide.
Kenneth R. Kensey, M.D., Founder, Chief Executive Officer and Chairman of the Board, is a pioneer and recognized leader in medical device development. Prior to founding Rheologics, Inc. (formerly known as Visco Technologies) in 1997, he co-founded Kensey Nash Corporation (Nasdaq:KNSY - News) and developed many products such as the Kensey Catheter(TM) and the AngioSeal(TM). Currently, Dr. Kensey is the inventor or co-inventor in more than 130 patent filings, with numerous patents issued. His publications include contributions to five medical books and nineteen journal articles. He is the author of The Blood Thinner Cure: A Revolutionary Seven Step Lifestyle Plan for Stopping Heart Disease and Stroke.
Ostara plans to use the Rheologics acquisition to help drive the company toward emerging medical technologies.
To learn more about Rheologics please visit their website at www.Rheologics.com.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its real estate interests. Ostara Corp. assumes no obligation to update the information contained in this press release, whether as a result of new information, future events or otherwise.
Contact:
Ostara Corporation, Wernersville
by
PIR LLC
Brad Novak, 949-661-5780
www.ostaracorp.com
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