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ActiveCare, Inc. Announces Capital Raise Commitment and Balance Sheet Restructuring
Date:8/20/2010

SALT LAKE CITY, Aug. 20 /PRNewswire-FirstCall/ -- ActiveCare, Inc. (OTC Bulletin Board: ACAR), a biotelematic technology company that specializes in products and services that help seniors manage and control their health and wellbeing while reducing overall costs to the healthcare industry, announced a capital raise commitment and balance sheet restructuring.

The Company has received a funding commitment from a European consortium of institutional investors that has agreed to invest up to $7.5 million into ActiveCare, at a price of $0.75 per share; the immediate funding of $2.5 million will be received by the Company within thirty days.  Future tranches will be available at the option of the Company, dependent upon the achievement of certain milestones in the level of members using the Company's products.  The commitment also requires that the Company's preferred shareholders convert their preferred shares into common stock at a price of $1 per share and that the warrants held by these shareholders be re-priced at $1 per share with no future re-sets.

As additional conditions to the commitment, the consortium will have the right to appoint two non-executive board members to ActiveCare's board of directors.

With the initial funding complete the Company will have the capital necessary to perform on its business plan and fulfill orders for its products and services.  In addition, the arrangement with the preferred shareholders will eliminate a $2,000,000 liability associated with a mandatory redemption provision imbedded in the Preferred Shares.

"This funding commitment will allow the Company to achieve its goals and projections and allows ActiveCare to implement its marketing and manufacturing requirements for more than 5,000 members," stated James Dalton, president.

About ActiveCare

ActiveCare (website at

SOURCE ActiveCare, Inc.
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