SARASOTA, Fla., Sept. 29 /PRNewswire-FirstCall/ -- CPC of America, Inc. (OTC Bulletin Board: CPCF.OB) today announced that it had retained FTI Capital Advisors, LLC, the investment banking subsidiary of FTI Consulting, Inc., to explore strategic alternatives for the Company.
As CPC of America's financial advisor, FTI Capital Advisors will report to the Board any expressions of interest from third parties seeking to pursue a possible licensing agreement or acquisition of the Company or its technology. CPC of America has authorized FTI Capital Advisors to contact parties and to report back so that the Board can evaluate any expressions of interest and determine whether a transaction would be in the best interests of shareholders. There can be no assurance that this process will result in any expressions of interest or a transaction, and the Company does not currently intend to publicly disclose further information regarding the status of its review until the process has been completed.
CPC of America also announced today that it has appointed FTI's Strategic Communications practice, FD, to provide public and investor relations counsel to the Company. One of the world's most sought-after business and financial communications consultancies, FD helps many of the world's leading organizations harness the power of communications to capitalize upon business opportunities. FD's Life Sciences group advises pharmaceutical and medical device entities ranging from global leaders to emerging, development-stage companies.
CPC of America's Chairman and CEO Rod A. Shipman notes, "CPC expects to benefit greatly from the counsel and support of FTI's consulting services in seeking to explore strategic alternatives and raise the visibility of our technology. We look forward to working with our advisors to examine and implement ways to maximize shareholder value."
CPC of America acquires, develops and oversees the manufacturing of cardiology therapeutic devices for the diagnosis and treatment of coronary artery disease. CPC's current focus is the completion of development and testing of MedClose(TM) Vascular Closure System, an internal puncture-closing device for use in catheter laboratories. The Company is currently seeking FDA approval for MedClose(TM).
About FTI Consulting
FTI Capital Advisors and FD are part of the FTI Consulting, Inc. (NYSE: FCN) company group. FTI is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 3,000 employees located in most major business centers in the world, FTI works closely with clients every day to anticipate, illuminate, and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management and restructuring.
FTI Capital Advisors, LLC (FINRA/SIPC) is the investment banking arm of FTI Consulting, Inc. FTI Capital Advisors leverages off the global footprint of its parent to provide its clients with access to buyers, sellers, investors and lenders worldwide.
A market leader in M&A advisory work, FD's services include financial public relations, capital markets communications, public affairs, crisis and issues management and corporate, business-to-business and business-to-consumer communications. FD is structured around specialist sector teams operating on an international basis, covering consumer industries, financial services, basic industries, business services, life sciences & healthcare, media, real estate, technology and telecommunications.
|SOURCE CPC of America, Inc.|
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