MDCorp Signs LOI For Acquisition, European Medical Distribution Business
SEATTLE, June 2, 2017 /PRNewswire/ -- MDCorp (OTC: MDCX) has executed an LOI to acquire 100% equity stake in Terramed, Ltd., Intellemed Ltd., Neuraxon, Ltd. hereafter described as "European Distribution Medical Systems" (EDMS). The EDMS group shall upon successful acquisition, if completed, become a wholly owned subsidiary of MDCorp.
EDMS represents a trio of European Medical distribution companies headed by Mr. Pantelis Stanitsas historically covering 6 countries in the European Union with sales channels into the United Kingdom, Greece, Cyprus, Romania, Bulgaria, and Kazakhstan. Revenues currently in the neighborhood of $5 million Euros are expected to expand with additional CAPEX funding. It is expected that our cooperation and acquisition shall allow EDMS as a wholly owned subsidiary of MDCorp to take advantage of new products and services layered across an existing, growing base of new branch offices.
EDMS seeks to utilize over 15 years of local market expertise and funding from MDCorp to open new branch offices and expand sales, layering more products and services through existing and then new sales channels.
Inquiries: mdc@mdcorp.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the MDCorp's position as a market leader, acceleration of innovation and expansion of total addressable market opportunity. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the MDCorp's control. MDCorp's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to (1) failure to realize the estimated synergies or growth anticipated as a result of the transactions or that such benefits may take longer to realize than expected, (2) risks related to unanticipated costs of integration of European Distribution Medical Systems by MDCorp, (3) the effect of the consummation of the transactions on the ability of MDCorp to retain and hire key personnel and maintain relationships with key business partners and customers, and on MDCorp's operating results and businesses generally, (4) adverse trends in economic conditions generally or in the industries in which the MDCorp operates, (5) adverse changes to, or interruptions in, relationships with third parties unrelated to the merger, (6) MDCorp's ability to compete effectively and successfully and to add new products and services, (7) MDCorp's ability to successfully manage and integrate acquisitions, (8) the ability to attract new customers and retain existing customers in the manner anticipated, (9) unanticipated changes relating to competitive factors in the MDCorp's industries, and (10) any business interruptions in connection with MDCorp's acquired technology, sales or systems. MDCorp is under no obligation, and expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.
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SOURCE MDCorp
