(PublicWire) — Thomas Pharmaceuticals, Ltd. (Pink Sheets: TPHM) announced Friday that it has entered into a non-binding Letter of Intent to merge with Global Medical Equipment of AZ, LLC. The closing is subject to:
- (i) to satisfaction of due diligence investigations by all of the parties,
- (ii) negotiation and execution of a definitive agreement,
- (iii) approval by Thomas Pharmaceuticals’ shareholders,
- (iv) completion of an audit of Global Medical
- (v) the completion of certain financing commitments for the post-merger Company
- (vi) certain other conditions precedent to closing.
It is anticipated that this transaction will close in the second quarter 2010. The merged company will continue to trade on the OTC Bulletin Board.
is involved with launching a series of patented products servicing home and institutional health care, specialty medical facilities, acute care facilities, and elder care. Global Medical is implementing a growth strategy of acquiring Medicare accredited durable medical equipment (“DME”) companies to create a direct distribution network.
“We have a number of different products and marketing opportunities representing the business’s growth strategy. Our Company continues to field additional inquiries regarding representation of other products creating vertical opportunities within markets already penetrated,” stated President and CEO, Harold Halman.
Core products include a hospital bed with multi-facet features that may eliminate bed sores, scooter lifts, along with a full line of mobility products with complimentary accessories involving all levels of DME solutions.
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