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XTend Medical (XDMC) Closes on 25% Acquisition of Medical Cost Management, Inc. (MCM)

Posted on: Thursday, 11 October 2007, 09:00 CDT

SUN VALLEY, Calif., Oct. 11 /PRNewswire-FirstCall/ -- XTend Medical Corporation (Pink Sheets: XMDC) announced the company has finalized its due diligence and closed the letter of intent on Medical Cost Management, Inc and has acquired a twenty-five percent stake in the company.

"After completing our extensive due diligence on Medical Cost Management, Inc, we're proud to announce we've acquired a twenty-five percent stake in the company. We felt that it was important to secure a portion of MCM in order for XTend to have a dedicated and focused group of sales and marketing professionals as we work on gaining contracts with managed care companies which happens to be MCM's expertise in the healthcare field. We've also negotiated a first right of refusal to purchase the remaining 75% of the company over the next 2 years through a combination of cash and/or cash and stock," stated Mr. Paul D. Lisenby, Chairman and CEO of XTend Medical Corporation. Mr. Lisenby adds, "This acquisition was done through the issuance of 2,500,000 shares of common stock that came from the original issuance of founder shares in XTend Medical. This will have no effect on the current outstanding shares within the company. XTend will continue to seek out additional acquisition and alliance opportunities that will bring considerable value to the company in order for us to grow and prosper in the healthcare arena."

Medical Cost Management issued the following statement:

"Now that we've closed this deal with XTend, our company will have a much stronger position in securing contracts with our managed care clients. The support we will receive from XTend will assist us in our current negotiations with the managed care companies we currently are in negotiations with. We're excited to be a shareholder in XTend and will work closely with Mr. Lisenby to reach his projections for 2008 and beyond," stated Mr. Jose Santoro, CEO of MCM.

About MCM: Medical Cost Management currently works with several large Managed Health Care companies in the U.S. as well as other regional and local health care insurers throughout the U.S., Puerto Rico, and Canada.

About XTend Medical: XTend Medical Corporation markets and sells healthcare and wellness products to hospitals, managed care companies, nursing homes, physician groups and individual patients. Through their alliances, XTend offers pharmacy services, diabetic supplies, and telemedicine products that increase patient care yet reduce costs associated with servicing those patients.

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

CONTACT: Investor Relations, FutureTechIR for XTend Medical Corporation,+1-817-812-2105

Source: PRNewswire-FirstCall

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