Jan 10th - Allezoe Medical Holdings (ALZM) Announces New Acquisition Agreement for Decontamination System
BOCA RATON, FLORIDA, Jan 10, 2012 (MARKETWIRE via COMTEX) -- Allezoe Medical Holdings, Inc. (OTCBB: ALZM) announced that it has entered into an agreement to acquire the decontamination technology licensing and development business of BioCube, Inc. (OTCBB: BICB) in exchange for convertible preferred stock of Allezoe plus the cancellation of the existing 60 percent non-dilution provision relating to the Company's common stock, issued in connection with the acquisition of Organ Transport Systems, Inc. The preferred stock to be issued will carry a 51 percent of the shareholder vote and will be convertible after one year at the discretion of the holder into 51 percent of the common stock. The transaction will be completed in the next 30 days through the acquisition of a wholly-owned Nevada subsidiary of BioCube. BioCube is collaborating with its Russian research partners to complete the development and commercialization of an environmentally safe decontamination system, utilizing an aerosol-based delivery method. This system has demonstrated effective handling of microbial and fungal cells, spores, and viruses that are the core of such infections as MRSA, Avian Flu, Swine Flu and common molds.
Allezoe CEO Michael Gelmon stated: "Hospitals struggle with the control of infectious diseases and continue to look for efficient, environmentally friendly, and cost-effective means of dealing with this pervasive problem. BioCube focuses on this existing market need for decontamination of patient rooms, operating theaters, medical equipment and furniture, which exists in over 5,000 hospitals and nearly 1 million beds in the U.S. healthcare system, as well as the many other uses of a similar decontamination solution."
BioCube will focus on the following target markets:
BioCube believes that its decontamination technology holds significant promise as a long-term solution to a global problem. BioCube's objective is to help create an effective technology that will allow for rapid, inexpensive and environmentally safe remediation of buildings that have been contaminated by a biological agent, thus allowing a speedy return to a state of normalcy. According to Mr. Gelmon: "With the acquisition of the decontamination technology, Allezoe will have three active subsidiaries with medical device products in development. Organ Transport Systems, Inc. continues the development work needed to begin its FDA clearance process for the Life Cradle(TM) organ transport system for transplants; SureScreen(TM) Medical has started the last stages of development of the "see and treat" technology for Human Papilloma virus (HPV), the world's leading sexually transmitted infection (STI); and our new subsidiary, BioCube, Inc., will complete the development process and start the marketing and distribution of the aerosol based, environmentally friendly decontamination system. This means we will expect to have three new medical technologies coming to the market over the next 6 to 15 months, and we will continue to seek medical device development and manufacturing companies to enhance our current portfolio."
About Allezoe Medical Holdings
Allezoe Medical Holdings, Inc. (OTCBB: ALZM) is a holding company focused on acquiring the most high quality and in-demand medical products, solutions and services. Whether through diagnosis, treatment, or medical research itself, Allezoe is interested in companies that are making a striking difference in the healthcare system through technology and treatments for health issues that affect large populations. For more information, please visit www.allezoe.com.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21 E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risk that could cause actual performance and results of operations to differ materially from those anticipated. These risks are set forth in the Company's most recently filed form 10-K and Form 10-Q reports. The Company assumes no obligation to update the statements contained in this release except as required by applicable securities disclosure rules. The Company's SEC filings are available at www.sec.gov.
Contacts: Allezoe Medical Holdings, Inc. Media Department media@allezoe.com www.allezoe.com
SOURCE: Allezoe Medical Holdings, Inc. CONTACT: mailto:media@allezoe.com http://www.allezoe.com
Copyright 2012 Marketwire, Inc., All rights reserved. -0- SUBJECT CODE: Financial Services:Investment Services and Trading Pharmaceuticals and Biotech:Biotech Medical and Healthcare:Medical Devices
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