Navigation Links
Healthcare Announced That an Overwhelming Majority of its Shareholders Approved the NexGen Biofuels Transaction
Date:12/4/2007

PETACH TIKVA, Israel, December 4 /PRNewswire-FirstCall/ -- Healthcare Technologies Ltd. (NASDAQ: HCTL), announced today that an overwhelming number of its unaffiliated and voting shareholders (approximately 90%) voted in favor of the NexGen Biofuels transaction.

At the meeting, the shareholders were asked to approve the previously announced Asset Purchase Agreement with NexGen Biofuels, Inc, Mac Bioventures Inc. and Gamida for Life B.V. and the transactions contemplated thereby, as a result of which the Company's business will be in the field of renewable fuels rather than biotechnology and medical devices.

The goal is to finalize the transaction by the end of December 2007. The Closing of the transactions contemplated by the Agreement is subject to the approval of the Israeli District Court and other closing conditions. No assurance can be given that the transactions contemplated by the Agreement will close.

About Healthcare Technologies

Healthcare Technologies Ltd. through it subsidiaries and affiliates Gamidor Diagnostics (1984) Ltd., Danyel Biotech Ltd. and Savyon Diagnostics Ltd., specializes in the development, manufacturing and marketing of clinical diagnostic test kits and provides services and tools to diagnostic and biotech research professionals in laboratory and point of care sites worldwide.

About NexGen Biofuels, Inc.

NexGen is operating in the business of alternative fuels. NexGen plans to build and operate four ethanol and one biodiesel plant with production primarily within in the United States. NexGen is currently in the process of acquiring and developing its proposed plants and has not conducted any significant business operations or generated any operating revenues to date. It is NexGen's intention to produce 100 million gallons of annual ethanol production per ethanol site, and 100 million gallons of annual biodiesel production.

SAFE HARBOR: This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward looking statement made by or on behalf of Healthcare Technologies Ltd. Many factors could cause the actual results, performance or achievements of Healthcare or the above described transaction to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others: satisfaction of the closing conditions to the agreement; receipt of regulatory and third party approvals, including the approval of the District Court of Tel Aviv; the satisfaction and completion of due diligence by the parties to the agreement; the receipt by Healthcare of a satisfactory valuation of NexGen's assets; a non-binding offer to purchase Healthcare's subsidiaries previously sent to us by Inverness Medical Innovations Inc., to which, as any negotiations with Inverness would be a breach of the NexGen Agreement, Healthcare has refrained from any discussions with Inverness. Readers are referred to the documents filed by the company with the Securities and Exchange Commission, specifically the Proxy Statement concerning the meeting and most recent report on Form 20F that identifies important risks which could cause actual results to differ from those contained in the forward looking statements.

Contact:

Healthcare Technologies Ltd.

Eran Rotem CFO

+972-3-9277232/3


'/>"/>
SOURCE Healthcare Technologies Ltd
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Hearing Scheduled in the Delaware Court of Chancery for August 27, 2007 to Establish the Valid Approval and Consummation of the Merger Between PharmAthene, Inc. and Healthcare Acquisition Corp.
2. Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction
3. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
4. Proceedings to Affirm Merger Between PharmAthene and Healthcare Acquisition Corp Initiated in Delaware Chancery Court
5. InterCure and Omron Healthcare (UK) Ltd. Announce Marketing Collaboration for Hypertension Market in United Kingdom
6. Apria Healthcare Chooses Masimo SET Pulse Oximetry for Use in the Companys Home Health Care Business
7. NuVasive to Present at Thomas Weisel Partners Healthcare Conference
8. Monogram Biosciences to Present at the Thomas Weisel Partners Healthcare Conference 2007
9. Boston Scientific to Participate in the Bear Stearns 20th Annual Healthcare Conference
10. ADVENTRX Pharmaceuticals to Present at the 2007 Thomas Weisel Partners Healthcare Conference
11. Caliper Life Sciences Presentation at Thomas Weisel Partners Healthcare Conference to be Webcast
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... WA (PRWEB) , ... June 23, 2016 , ... ... announces the release of its second eBook, “Clinical Trials Patient Recruitment and Retention ... recruitment and retention in this eBook by providing practical tips, tools, and strategies ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... YM (Yeast and Mold) microbial test has received AOAC Research Institute approval 061601. ... microbial tests introduced last year,” stated Bob Salter, Vice President of Regulatory and ...
(Date:6/23/2016)... FRANCISCO , June 23, 2016   EpiBiome ... has secured $1 million in debt financing from Silicon ... ramp up automation and to advance its drug development ... its new facility. "SVB has been an ... beyond the services a traditional bank would provide," said ...
Breaking Biology Technology:
(Date:4/15/2016)... 2016  A new partnership announced today will ... decisions in a fraction of the time it ... high-value life insurance policies to consumers without requiring ... Force Diagnostics, rapid testing (A1C, Cotinine and HIV) ... pressure, weight, pulse, BMI, and activity data) available ...
(Date:4/13/2016)... -- IMPOWER physicians supporting Medicaid patients in Central ... in telehealth thanks to a new partnership with higi. ... patients can routinely track key health measurements, such as ... when they opt in, share them with IMPOWER clinicians ... retail location at no cost. By leveraging this data, ...
(Date:3/29/2016)... March 29, 2016 LegacyXChange, Inc. ... "LEGX" and SelectaDNA/CSI Protect are pleased to announce our ... in a variety of writing instruments, ensuring athletes signatures ... created collectibles from athletes on LegacyXChange will be assured ... the DNA. Bill Bollander , CEO ...
Breaking Biology News(10 mins):