Medex, Inc. Announces Closing Date for Acquisition of BEE Mobile, Inc.
27 Mayo 2010 - 8:31AM
Marketwired
Medex, Inc. (PINKSHEETS: MDXX) today announced that it intends to
close on the previously announced acquisition of privately held BEE
Mobile, Inc. on or before June 9, 2010. Medex originally planned to
close on the transaction in late April but postponed the event in
order to participate in detailed negotiations related to the
planned opening of a second BEE Mobile location. 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 have not been disclosed but will
consist of a combination of cash and Medex, Inc. restricted
shares.
As previously disclosed, 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 above
referenced facility is expected to open in June 2010.
In a related matter, Medex today confirmed its completion of the
previously announced acquisition of Creative Rehab Technology
Services, Inc. As previously reported, the Creative Rehab
Technology Services transaction is expected to provide Medex annual
revenue of $1.2 million and net earnings of approximately
$365,000.
Paul Protzman, founder and former President of both Creative
Rehab Technology Services and BEE Mobile, Inc., has been elected
President of Medex, Inc. effective immediately. Prior to
establishing the acquired companies, Mr. Protzman, 66, previously
served with Apria Healthcare (http://www.apria.com). He is a
recognized expert and trainer in seated mobility solutions.
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, receipt of revenues and other factors
beyond the control of the company. The company disclaims any
obligation to update information contained in any forward-looking
statement.
Investor Relations: Medex, Inc. Mr. Bob Leahy
202/550-4294
(USOTC:MDXX)
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