Navigation Links
HealthSonix Sells Operating Subsidiaries to Innovative Health Sciences
Date:7/14/2008

IRVINE, Calif., July 14 /PRNewswire-FirstCall/ -- HealthSonix, Inc. (Pink Sheets: HSXI)(FWB:H7S) today announced that Innovative Health Sciences, Inc. (Pink Sheets: IHSI) has purchased two wholly owned subsidiaries of HealthSonix, Inc. in exchange for 35,356,000 IHSI common shares.

"Selling the two operating companies to Innovative Health Sciences (http://www.InnovativeHS.com) will immediately allow the companies to resume full operations and get back to implementing their business plan," said Dieter Doederlein, Vice President Corporate Development for HealthSonix. "As part of the agreement, Innovative Health Sciences has committed to injecting significant working capital into the operations to expedite the delivery of the Gen II hand held enSonix medical devices and to allow us to expand the distribution of the ZingiberRx Joint and Muscle cream," added Doederlein.

All HealthSonix shareholders of record as of July 14, 2008 will receive IHSI shares on a pro rata basis in exchange for their HSXI shares. The anticipated exchange ratio is .6 IHSI shares for every 1.00 HSXI share. The shares will be distributed to our shareholders in due course.

"Effectively, the current HealthSonix shareholders, as a group, become the majority shareholders in IHSI," said Chris Winter, CEO of Innovative Health Sciences. "Our management and our shareholders are extremely pleased with this acquisition, and we look forward to making our contribution to the immense growth potential and anticipated success of the HealthSonix products."

Following the completion of the transaction, HealthSonix, Inc. will change its name to HSX Holdings, Inc.

HSX Holdings, Inc. (formerly HealthSonix, Inc. - HSXI) is a holding company with ownership interest in Innovative Health Sciences, Inc. [IHSI]. All current HSXI shareholders have indirect ownership in IHSI. For more information, please visit http://www.hsxholdings.com.

Note: A number of statements contained in this news release are forward-looking statements, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors not set forth herein. The actual results that the Company may achieve may differ materially from any forward-looking statements due to such risks and uncertainties.


'/>"/>
SOURCE HealthSonix, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. AEterna Zentaris Sells Quebec City Building for $7.1 million
2. VaxGen Sells Anthrax Vaccine Program and Related Assets and Technology to Emergent BioSolutions, Inc.
3. Cell Therapeutics, Inc. Sells $64.5 million Units Consisting of Preferred Stock, New 2014 Convertible Senior Notes and Warrants to a Single Institutional Investor
4. CuraGen Sells Ownership of Belinostat to TopoTarget A/S
5. ActivBiotics Sells Proprietary Assets, Including Drug Product Candidates
6. Exelixis Sells 80% Stake in Artemis to Taconic
7. Discas, Inc. Sells Shares to SNX Organic Fertilizers, Inc.
8. Angiotech to Establish Separate Operating and Royalty Businesses
9. IBT Laboratories Names Maureen Loftus President and Chief Operating Officer
10. Studies Show USGI Medicals EndoSurgical Operating System(TM) Enables Incisionless Surgery to Reduce Gastric Pouch and Stoma After Gastric Bypass
11. Brian Levy, OD, MSc, Named Chief Operating Officer of Danube Pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Rolf ... join the faculty of the University of North Carolina Kenan-Flagler Business School ... and entrepreneurship at UNC Kenan-Flagler, with a focus on the school’s international efforts, ...
(Date:6/24/2016)... , June 24, 2016  Regular discussions on a ... take place between the two entities said Poloz. ... Ottawa , he pointed to the country,s ... the federal government. ... said, "Both institutions have common economic goals, why not sit ...
(Date:6/24/2016)... , ... June 24, 2016 , ... Researchers at the ... commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings are the subject ... it now. , Diagnostic biomarkers are signposts in the blood, lung fluid or ...
(Date:6/23/2016)... Mass. , June 23, 2016   ... development of novel compounds designed to target cancer ... napabucasin, has been granted Orphan Drug Designation from ... the treatment of gastric cancer, including gastroesophageal junction ... stemness inhibitor designed to inhibit cancer stemness pathways ...
Breaking Biology Technology:
(Date:4/28/2016)... , April 28, 2016 First quarter ... (139.9), up 966% compared with the first quarter of 2015 ... totaled SEK 589.1 M (loss: 18.8) and the operating margin was ... (loss: 0.32) Cash flow from operations was SEK 249.9 ... 2016 revenue guidance is unchanged, SEK 7,000-8,500 M. The ...
(Date:4/15/2016)... April 15, 2016  A new partnership announced ... accurate underwriting decisions in a fraction of the ... priced and high-value life insurance policies to consumers ... With Force Diagnostics, rapid testing (A1C, Cotinine ... readings (blood pressure, weight, pulse, BMI, and activity ...
(Date:3/31/2016)... 2016   LegacyXChange, ... "Company") LegacyXChange is excited to release its ... to be launched online site for trading 100% guaranteed ... will also provide potential shareholders a sense of the ... an industry that is notorious for fraud. The video ...
Breaking Biology News(10 mins):