SANOMEDICS INTL HLDG (OTCMKTS:SIMH) $30m Deal Still Progressing

Posted by: : Shayne HeffernanPosted on: June 18, 2014 SANOMEDICS INTL HLDG (OTCMKTS:SIMH) $30m Deal Still Progressing

SANOMEDICS INTL HLDG (OTCMKTS:SIMH) $30m Deal Still Progressing

Yesterday during a Telephone interview the company remains positive it will close on a deal that provides over $30m a year in revenue,the 1st news of this drove the stock well over $1 the stock is now under 40c but should see old highs as the deal draws closer to a close.

Sanomedics International Holdings, Inc. (OTCQB: SIMH) (“Sanomedics”), a medical technology holding company that focuses on game-changing products, services and ideas, today announced that on February 21, 2014, it has entered into a non-binding Letter of Intent (“LOI”) to acquire all of the issued and outstanding equity of a leading provider of professional health care services and solutions to public and private institutions and multinational corporations throughout the world. For the year ended December 31, 2013, the targeted company reported approximately $30 million in revenues (unaudited).

The proposed transaction will give Sanomedics a 100% interest in the equity of the company in exchange for cash and notes to be disclosed upon signing of a definitive agreement within 45 days. “The closing of this transaction further broadens the scope of the health care services we had planned for in the implementation of our strategy and identification as a leading medical technology holding company”, stated Keith Houlihan, co-founder and President of Sanomedics. The Company intends to use the remainder of its loan facility from TCA Global Funds LLC to fund the targeted acquisition.

Completion of the acquisition will be subject to the negotiation and execution of a binding definitive agreement and the satisfaction of a number of conditions, including but not limited to Sanomedics and the targeted acquisition being satisfied with the results of their respective due diligence investigations.

About Sanomedics International Holdings, Inc.

Sanomedics International Holdings, Inc. (OTCQB: SIMH) is a medical technology holding company that focuses on game changing products, services and ideas – a place where physicians, entrepreneurs, and medical companies can work together to drive innovative technologies through concept, development, and ultimately commercialization. We plan to grow our existing business organically and through strategic acquisitions specifically relating to healthcare technology and services.

The following two tabs change content below.
Avatar of Shayne Heffernan
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
  • Start Trading Like a Professional

Research 1 of 6

Become a Day Trading Professional

ver_1

Get the HEFFX Daily Alerts, FX, Commodities, Stocks, Futures Once a Day FREE!

Recent News

Get the HEFFX Daily Alerts, FX, Commodities, Stocks, Futures Once a Day FREE!

heffx