The two companies will be announcing certain distribution and financing transactions in the upcoming couple of days. The transactions are subject to Board approval, and could be subject to shareholder approval if a merger is to be consummated. However, notwithstanding any agreement to the contrary, Heart One Global Research and its affiliates and subsidiaries have agreed to a $10,000,000 break-up fee payable to Signalife, Inc. if the transaction fails to close for any reason other than an act of Signalife.
As Signalife continues to generate data from the usage of its Fidelity 100, the analysis and exchange of this data -- which suggests that screening using the Fidelity 100 yields pathology detection at triple (or more) of the national average rate -- must be properly evaluated, stored and communicated to patient and industry alike. In the words of Lowell Harmison, senior advisor to the Signalife Board, "Is walking around with early asymptomatic heart disease acceptable? We may have now identified a key reason for the astronomical cost reported to be nearly $400 billion nationwide in caring for heart patients." By effectuating the merger, the companies will assure that the core of the electronic medical record -- the condition of the patient's heart -- is properly screened and carefully compared to the other medical and pharmacological conditions across societies.
Under the merger agreement, all shareholders of Heart One Global
Research must physically deliver their share certificates to an independent
third party tabulator. Concurrently, all shareholders of Signalife must
physically deliver their share certificates to the same independent party.
Upon receipt of all share certificates, the surviving company -- a
subsidiary of Signalife -- shall emanate and such com
|SOURCE Signalife, Inc.|
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