announced today that it has entered into a non-binding
Letter of Intent to merge with Global Medical Equipment
of AZ, LLC. ("Global Medical"). 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 and
(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.
Global Medical 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.
Certain information included in this press release
may contain forward-looking statements about our current
and expected performance trends, growth plans, business
goals and other matters. These statements may be
contained in our filings with the Securities and
Exchange Commission, in our press releases, in other
written communications, and in oral statements made by
or with the approval of one of our authorized officers.
Information set forth in this press release contains
various "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. The Private
Securities Litigation Reform Act of 1995 (the "Act")
provides certain "safe harbor" provisions for
forward-looking statements. The reader is cautioned that
such forward-looking statements are based on information
available at the time and/or management's good faith
belief with respect to future events, and are subject to
risks and uncertainties that could cause actual
performance or results to differ materially from those
expressed in the statements. Forward-looking statements
speak only as of the date the statement was made. We
assume no obligation to update forward-looking
information to reflect actual results, changes in
assumptions or changes in other factors affecting
forward-looking information. Forward-looking statements
are typically identified by the use of terms such as
"anticipate," "believe," "could," "estimate," "expect,"
"intend," "may," "might," "plan," "predict," "project,"
"should," "will," and similar words, although some
forward-looking statements are expressed differently.
Although we believe that the expectations reflected in
such forward-looking statements are reasonable, we can
give no assurance that such expectations will prove to
be correct.
Contact: Harold Halman President - CEO Global Medical
Equipment of AZ 480-216-2600 - Phone Email Contact
www.gbdcllc.com harold.halman - Skype
SOURCE: Thomas Pharmaceuticals
