Navigation Links
Oracle Healthcare Acquisition Corp. and Precision Therapeutics, Inc. Mutually Terminate Merger Agreement; Oracle Healthcare Acquisition Corp. Cancels Special Meeting
Date:3/4/2008

GREENWICH, Conn., March 4 /PRNewswire-FirstCall/ -- Oracle Healthcare Acquisition Corp. (the "Company") (OTC Bulletin Board: OHAQ) announced today that it has entered into an agreement with Precision Therapeutics, Inc. ("PTI") providing for the mutual termination of the Agreement and Plan of Merger, dated as of December 3, 2007 and amended on January 24, 2008 and February 25, 2008 (as amended, the "Merger Agreement"), by and among the Company, PTI Acquisition Sub, Inc. and PTI and the transactions contemplated thereby.

The Company and PTI determined that, due to currently prevailing market conditions, terminating the Merger Agreement was in the best interests of both the Company and PTI, as well as their respective stockholders.

In light of the termination of the Merger Agreement, the Company's board of directors has canceled the special meeting of stockholders of the Company that had been scheduled to occur on Wednesday, March 5, 2008 for the purpose of voting on the Merger Agreement.

Pursuant to the provisions of the Company's Amended and Restated Certificate of Incorporation, the Company will liquidate as promptly as practicable. The Company's board of directors has authorized the Company to commence a dissolution and liquidation process. This process will involve, among other things, the preparation of a plan of dissolution and a proxy statement by the Company (which will be subject to board approval), the filing of such proxy statement with, and (if applicable) clearance by, the Securities and Exchange Commission and a stockholders meeting to approve the dissolution and liquidation of the Company.

Forward Looking Statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2007.

Contact: President and Chief Operating Officer

Oracle Healthcare Acquisition Corp.

(203) 862-7900


'/>"/>
SOURCE Oracle Healthcare Acquisition Corp.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Oracle Introduces Remote Data Capture Onsite 4.5.3 With Extensive New Functionality for Investigative Site Personnel
2. Oracle Healthcare Acquisition Corp. and Precision Therapeutics, Inc. Agree in Principle to Amend Merger Agreement to Reduce Consideration by 15%
3. Oracle Helps Mayo Clinic Improve Information Management
4. TCS, Oracle and DrugLogic Prescribe Safety in a Capsule(TM)
5. Cathedral Healthcare System to Pay U.S. $5.3 Million to Resolve Allegations Involving Inflated Charges to Obtain Higher Medicare Reimbursement
6. Bayer HealthCare and Juvaris BioTherapeutics Announce Major Licensing Agreement
7. Anthem Blue Cross and Blue Shields Promoting Healthcare Quality Program Improves Quality and Patient Safety in 19 Colorado Hospitals
8. Benefitfocus(R) Healthcare Video Portal Merges Community with Credibility
9. Prime Healthcare Services Enters Into Network Wide Contract With Aetna Health Plans
10. UPDATED: Catholic Healthcare West and SEIU Begin Negotiations for 15,000 Hospital Workers
11. Catholic Healthcare West and SEIU Begin Negotiations for 15,000 Hospital Workers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... ... , ... Johns Hopkins All Children's Hospital celebrated a major milestone with the ... marked the halfway point of construction and lifting of the final beam on the ... a center for innovation aimed at finding new discoveries and treatments for childhood diseases. ...
(Date:2/19/2017)... (PRWEB) , ... February 19, 2017 , ... Braun Industries ... JEMS Conference & Exposition, the event will take place February 23-25, 2017 at the ... will be in Booth #909 with three new ambulances on display. ...
(Date:2/18/2017)... ... 2017 , ... Focused start-ups, not traditional health care organizations, ... the recent NEJM Catalyst Insights Report on the New Marketplace. , NEJM ... a qualified group of U.S. executives, clinical leaders, and clinicians at organizations directly ...
(Date:2/18/2017)... ... February 18, 2017 , ... A new ... and contact points to easily connect elderly veterans of America's armed forces to ... funding. It also conveys material on this year's increase in the Veterans Pension ...
(Date:2/17/2017)... , ... February 17, 2017 , ... ... brings its educational assistance management solution to the exhibit floor for the ... Orlando, Fla. , From Feb. 19–23, 2017, more than 40,000 healthcare industry ...
Breaking Medicine News(10 mins):
(Date:2/19/2017)... February 18, 2017 Marapharm (OTCQB: ... purchase a Medical Delivery Service with the specific and ... between qualified patients and caregivers. The delivery service is ... in the Coachella Valley, California . ... Angeles area to the West, population 19,000,000. ...
(Date:2/17/2017)... Cryoablation, Electrical, Endometrial Hydrothermal, Laser/Light, Microwave, Radiofrequency, Ultrasound, Cardiovascular, Gynaecology, Musculoskeletal, ... to grow at a CAGR of 9.4% from 2017-2022 and CAGR ... a CAGR of 9.5% from 2017 to 2027. The market is ... ... you Read on to discover how you can exploit the ...
(Date:2/17/2017)... plc (NYSE, TASE: PRGO) today announced it has received final ... bitartrate and homatropine methylbromide oral solution (syrup), 5 mg/1.5 mg ... methylbromide oral solution (syrup), 5 mg/1.5 mg per 5 mL ... and children 6 years of age and older. Annual sales ... million.   ...
Breaking Medicine Technology: