XTend Medical (XMDC) Signs Letter of Intent to Purchase Medical Cost Management, Inc. (MCM)
Posted on: Wednesday, 3 October 2007, 09:00 CDT
SUN VALLEY, Calif., Oct. 3 /PRNewswire-FirstCall/ -- XTend Medical Corporation (Pink Sheets: XMDC) announced the company has signed a Letter of Intent to purchase Medical Cost Management, Inc.
Medical Cost Management currently works with several of the largest Managed Health Care companies in the U.S. as well as other regional and local Heath care insurers throughout the Northeast.
"Pending our due diligence process, we feel it is important for the company to look at this purchase as a very strategic one in the fact that MCM currently works with some of the largest health care companies in the U.S. and can bring our products to the decision makers of these organizations for implementation and sales," stated Mr. Paul D. Lisenby, Chairman and CEO of XTend Medical. "Furthermore, Mr. Jose Santoro has over 30 years in directing sales and marketing efforts in managed care. We feel his company has the potential to bring in accounts doing well in excess of $200 million dollars in business each year. Mr. Santoro is also an educator in the diabetes sector which allows him to thoroughly present the best solution for the company(s) he deals with. His continued desire to build his company will allow XTend to have someone solely dedicated to selling our products and will allow the company executives to concentrate on further acquisitions and product development with other companies."
"I'm very excited to have this opportunity to possibly unite my company with XTend Medical. MCM, Inc is dedicated to brining the best cutting-edge solutions to our clients in the managed care sector thereby increasing patient care and reducing costs to the company, keys to closing accounts. Our combined efforts will insure short and long term growth for XTend and allow us to target some of the larger Managed Care Companies here in the U.S.," stated Mr. Jose Santoro, CEO of Medical Cost Management, Inc.
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Contact: Company Contact: FutureTechIR for XTend Medical Corporation Investor Relations (817) 812-2105
XTend Medical Corporation
CONTACT: FutureTechIR, Investor Relations, +1-817-812-2105, for XTendMedical Corporation
Web site: http://www.financialfilings.com/
Source: PRNewswire-FirstCall
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