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
|SOURCE Healthcare Technologies Ltd|
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