Navigation Links
HealthWarehouse.com, Inc. Announces Completion of Business Combination With Clacendix, Inc.
Date:5/15/2009

Business combination should enable HealthWarehouse.com to accelerate expansion of industry-leading $3.50 prescription drug program

CINCINNATI, May 15 /PRNewswire-FirstCall/ -- HealthWarehouse.com, Inc., a privately held Delaware corporation, and Clacendix, Inc. (OTC Bulletin Board: IONN.OB) announced today the completion of their business combination pursuant to a securities exchange agreement. The combined company will assume and execute the HealthWarehouse.com business plan as its sole business. In connection with the business combination, Clacendix intends to change its name to HealthWarehouse.com. Until the name change becomes effective, Clacendix shares will continue to be quoted on the OTC Bulletin Board under the ticker IONN.OB.

Under the securities exchange agreement, Clacendix acquired all the outstanding capital stock of HealthWarehouse.com from the existing stockholders of HealthWarehouse.com in exchange for newly-issued shares of Clacendix common stock. As a result of the share exchange, HealthWarehouse.com is now a wholly-owned subsidiary of Clacendix and the former HealthWarehouse.com stockholders will own, on a post-transaction basis, approximately 82.4% of the outstanding common stock of Clacendix. Prior to the close of the business combination, HealthWarehouse.com completed a financing, raising net proceeds of $1.2 million from accredited investors. Clacendix will file a Form 8-K on or before May 20, 2009, which will contain detailed business and financial information concerning the combined company.

HealthWarehouse.com, a licensed U.S. online mail-order pharmacy, is working to revolutionize the way Americans purchase prescription drugs and healthcare products. In addition to offering cost savings, HealthWarehouse.com seeks to enhance the consumer experience by providing exceptional customer service, convenience and privacy. With some of the lowest priced prescriptions in the United States, 100% free shipping and 90-day returns with no restocking fees, consumers have responded by making HealthWarehouse.com one of the fastest growing online pharmacies.

Clacendix CEO, Norman Corn said, "We are truly excited, having searched for a suitable business combination candidate for over a year. HealthWarehouse.com is growing at an incredible rate with an impressive business model that we believe delivers outstanding consumer value."

Upon the close of the business combination, the company appointed Lalit Dhadphale as Chairman, President and CEO, in addition to his duties as a director of HealthWarehouse.com, he will now serve as director of the combined company. Patrick E. Delaney, Chief Financial Officer at Clacendix, will continue in the same role.

"This is a significant step forward for our company," states CEO Lalit Dhadphale. "We are excited to leverage the public financial markets to fund expansion and further accelerate our strategy to deliver consumers a convenient and affordable option when purchasing prescription drugs in the United States."

About HealthWarehouse.com

HealthWarehouse.com, Inc. is a licensed U.S. online mail-order pharmacy based in Cincinnati, Ohio. HealthWarehouse.com is the first company to offer FDA-approved generic prescriptions at $3.50 for 30-day supplies and $9.50 for 90-day supplies with 100% free shipping. HealthWarehouse.com's mission is to redefine the meaning of healthcare and relentlessly strive to make it affordable for all Americans.

The information contained in this press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. A forward-looking statement is one which is based on current expectations of future events or conditions and does not relate to historical or current facts. These statements include various estimates, forecasts, projections of Clacendix' future performance, statements of Clacendix' plans and objectives, and other similar statements. Forward-looking statements include phrases such as "expects," "anticipates," "intends," "plans," "believes," "predicts," "estimates," "assumes," "projects," "may," "will," "will be," "should," or similar expressions. Although Clacendix believes that its current expectations are based on reasonable assumptions, it cannot assure you that the expectations contained in such forward-looking statements will be achieved. Forward-looking statements involve risks, uncertainties and assumptions which could cause actual results to differ materially from those contained in such statements. Investors should not place undue reliance on the forward-looking statements contained in this press release, as they speak only as of the date of this press release, and Clacendix expressly disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein.


'/>"/>
SOURCE HealthWarehouse.com, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Smith & Nephew Orthopaedics Announces First Contribution to OREF Grants Fund
2. Cigna Medical Group Announces Grand Opening of CareToday Clinic in Anthem, Ariz.
3. Americans United for Life Announces Legal Prospectus on Probable Supreme Court Nominees
4. Tianyin Pharmaceutical Co., Inc. Announces Third Quarter 2009 Financial Results
5. Ontario Systems Announces New Alliance With Microsoft
6. Boston Scientific Announces Schedule for EuroPCR 2009
7. Exiqon Announces New Grant Program for MicroRNA Research
8. May 14, 2009: Biodesix Announces VeriStrat(R) Data in Head and Neck Cancer to be Presented at ASCO
9. BioCryst Pharmaceuticals Announces Presentation of Forodesine Data at the 45th Annual Meeting of the American Society of Clinical Oncology
10. Standard & Poors Announces Changes to U.S. Index
11. WuXi PharmaTech Announces First-Quarter 2009 Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... , ... May 27, 2016 , ... Aimed at nurses ... interest stories, which come courtesy of leaders in the nursing and health care industry. ... leading advocates and associations—namely Abilene Christian University. , As the nursing industry is ...
(Date:5/26/2016)... ... May 26, 2016 , ... There are many ways ... and Sausage Council (NHDSC) suggests that Americans prefer their dogs straight off the grill. ... say grilling is their favorite way to cook a hot dog, far outpacing other ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... (IP) to its specialty academic programs. , Answering to the increasing demand for ... programs in health law, and environmental and land use law. ,  , “The ...
(Date:5/26/2016)... ... May 26, 2016 , ... ... a significant negative impact on long-term patient survival, reports a team of UPMC ... online this week in the Journal of Thoracic and Cardiovascular Surgery, provide critical ...
(Date:5/26/2016)... ... 26, 2016 , ... Dr. James Maisel will present on ... Chapter on June 4, 2016, 1:30-3:30 pm at the Farmingdale Public Library. The ... Group of New York , is a Board Certified ophthalmologist who completed his ...
Breaking Medicine News(10 mins):
(Date:5/27/2016)... 2016 Hutchison China MediTech ... on the highly lucrative global oncology and immunology ... potential first-in-class or best-in-class tyrosine kinase inhibitor (TKI) ... strategic partners. HCM,s profitable Chinese healthcare business continues ... expect progress of the mid-to-late-stage pipeline during 2016-17 ...
(Date:5/26/2016)... , May 26, 2016 A ... growth is the emergence of new treatments. Cardax, a ... for osteoarthritis treatment. The therapy is expected to fulfil ... Research UK is conducting studies to develop new treatments ... where the genes involved in osteoarthritis are being investigated, ...
(Date:5/25/2016)... , May 25, 2016 According ... by Type (3D, 2D, 4D), by Therapeutic Area (Oncology, ... End User (Medical Device Manufacturers, Hospitals/ Clinics) - Forecast ... global Medical Animation Market for the forecast period of ... USD 301.3 Million by 2021 from USD 117.3 Million ...
Breaking Medicine Technology: