Navigation Links
Instacare Corp. Board of Directors Considers Recent Merger Proposal Inadequate
Date:5/11/2011

LOS ANGELES, May 11, 2011 /PRNewswire/ -- Instacare Corp. (OTCQB: ISCR), the exclusive provider of the Shasta Genstrip, a revolutionary diagnostic product targeted at the $20 billion diabetes care marketplace, a leading provider of prescription diagnostics and home testing products for the chronically ill, and a leading developer of revolutionary cell phone centric e-health products and technologies, today announced that its Board of Directors has met regarding the 2nd confidential proposal received from the NASDAQ traded company (the "Company") recently mentioned in a Press Release, and has for the second time rejected the Merger Offer as inadequate in providing fair value to Instacare shareholders.

The Board of Directors of Instacare Corp. did find more merit in the latest proposal and thus asked Chairman Robert Jagunich to prepare a counter proposal on behalf of the Board.  Mr. Jagunich has completed the counter offer and sent it to the Company.

Keith Berman, CFO and Secretary of Instacare Corp. commented, "Although the current merger proposal offers Instacare shareholders more value and better terms than the first offer, and although this latest proposal offers a substantial premium to the company's current share price, it is the Board's belief that, based on the Walling reports of January 24 and March 2 and Walling's update expected prior to May 20, the company offers more value to its shareholders, by remaining independent."

Mr. Berman continued, "Given the near term release of Genstrip and an advertising and branding campaign slated to begin this month, as well as discussions we are in with other companies, Instacare intends to engage an investment bank to evaluate all offers and explore possible strategic alternatives."

For more information about Instacare Corp., Pharma Tech Solutions, Inc. and/or its revolutionary MD@Hand cell phone centric technologies, please visit the Instacare web site www.Instacare.net or www.pharmatechdirect.com, or call the company at (805) 446-2973.

Forward-Looking Statements

This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions.


'/>"/>
SOURCE Instacare Corp.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. instaCare Corp. Continues Turnaround, Reports 58% Revenues Increase for First Three Quarters
2. Instacare Corp. Board of Directors Sets Growth Plans for 2010
3. Instacare Moves to Secure Patents for Its Newest Technologies, Announces Parallel Strategies for Its Revolutionary MD@Hand Cell-Centric Products
4. InstaCare Corp. to Announce Guidance on Its Genstrip Product Line on January 10, 2011
5. InstaCare Corp. Announces 2011 Genstrip Guidance Report Penned by William Walling, CFA
6. InstaCare Files Full Utility Patent for MD@Hand & MD@Work Technologies
7. InstaCare Announces Receipt of Technology and Patent Value Analysis Penned by Joseph Wolf, Ph.D and William Walling, CFA
8. InstaCare Extends MD@Hand & MD@Work Mobile EMR/EHR Technology to Smart Pad Systems
9. InstaCare Announces Ready for Market MD@Detail Mobile Health Media System for Pharmaceutical e-Detailing
10. InstaCare Subsidiary Signs New Agreement for Expanded Management and Sales of Shasta Genstrip Into the $20 Billion Worldwide Diabetes Testing Market
11. CellCyte Genetics Corp. Enters Collaborative Research Agreement With Cleveland Clinic Foundation to Qualify Stem Cell Delivery in Damaged Heart Tissue
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... 23, 2016  MedSource announced today that it ... software solution of choice.  This latest decision demonstrates ... to their clients by offering a state-of-the-art electronic ... establishes nowEDC as the EDC platform of choice ... clients.  "nowEDC has long been a preferred EDC ...
(Date:6/23/2016)... Calif. , June 23, 2016 Any dentist ... many challenges of the current process. Many of them do ... of the technical difficulties and high laboratory costs involved. And ... to offer it at such a high cost that the ... it. Dr. Parsa Zadeh , founder of ...
(Date:6/23/2016)... Ill. , June 23, 2016  In a startling report ... are failing their residents by lacking a comprehensive, proven plan to ... a definitive ranking of how states are tackling the worst ... to only four states – Kentucky , ... Vermont . Of the 28 failing states, three ...
Breaking Medicine Technology:
(Date:6/27/2016)... ... June 27, 2016 , ... A revolution ... the emergency ambulance transport experience for the millions of people who require these ... disrupted the taxi industry through the use of technology. Now, SmartEMS has put ...
(Date:6/26/2016)... , ... June 26, 2016 , ... Pixel Film Studios ... X. , "Film editors can give their videos a whole new perspective by using ... - CEO of Pixel Film Studios. , ProSlice Levels contains over 30 Different ...
(Date:6/25/2016)... D.C. (PRWEB) , ... June 25, 2016 , ... ... discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June 26-28, ... their work on several important health care topics including advance care planning, healthcare ...
(Date:6/25/2016)... ... 25, 2016 , ... First Choice Emergency Room , the largest network ... the Medical Director of its new Mesquite-Samuell Farm facility. , “We are pleased ... location,” said Dr. James M. Muzzarelli, Executive Medical Director of First Choice Emergency Room. ...
(Date:6/25/2016)... , ... June 25, 2016 , ... Conventional wisdom preaches ... success. In terms of the latter, setting the bar too high can result in ... than just slow progress toward their goal. , Research from PsychTests.com ...
Breaking Medicine News(10 mins):