Navigation Links
United American Healthcare Corporation Announces Acquisition of Pulse Systems, LLC

DETROIT, June 18 /PRNewswire-FirstCall/ -- United American Healthcare Corporation (Nasdaq: UAHC) today announced it has acquired privately held Pulse Systems, LLC.  Based in Concord, Calif., Pulse Systems, LLC provides contract manufacturing services to the medical device industry, with a focus on precision laser-cutting capabilities and the processing of thin-wall tubular metal components, sub-assemblies and implants, primarily in the cardiovascular market. For the fiscal year ended Dec. 31, 2009, Pulse Systems generated revenue of approximately $9.2 million.

In the transaction, UAHC purchased all of the common units of Pulse Systems for $3.4 million in cash and the issuance of a $1.75 million promissory note due Jan. 2, 2011.  UAHC will also issue 1,608,040 shares of its common stock to the former Pulse Systems common unit holders, subject to the approval of its shareholders by Dec. 31, 2010.

UAHC also announced that UAHC has invested $750,000 in Pulse Systems to pay down Pulse Systems' bank debt and, over the next 24 months, will invest another $3.99 million (including an initial payment made of $1.75 million) in Pulse Systems to redeem all of the Pulse Systems' preferred units.

If the UAHC shareholders do not approve the share issuance contemplated by this transaction, then rather than issue UAHC common stock, UAHC will return to the sellers Pulse Systems' common units constituting 26% of the common equity of Pulse Systems.

"After an extensive review of our strategic alternatives, we have embarked on an acquisition that meets each of our key investment criteria, including significant revenue contribution, positive EBITDA and long-term growth potential," said William C. Brooks, President and CEO of United American Healthcare.  "While our pursuit of a strategic alternative was not limited to any specific industry, our purchase of Pulse Systems marks a new chapter in UAHC's longstanding commitment to the healthcare industry – one that we expect will provide new opportunities in the dynamic medical device sector."

Brooks continued, "This acquisition is a milestone in the history of UAHC.  One of the most exciting aspects of this combination is the significant long-term growth potential of our combined Company, as well as the new, deeper leadership team we will gain.  The proven capabilities of the Pulse Systems team should prove very important as we work to grow revenues over the long term."

As part of the transaction, key members of Pulse Systems' senior management team will remain with the Company to guide future operations.  The team includes Herbert J. Bellucci, CEO of the Pulse Systems operation, who has more than 30 years experience in the medical device industry.    

"We are pleased to join forces with the UAHC team," said Bellucci.  "Our focus on quality, service and leading-edge technology combined with the institutional knowledge of the UAHC management team will allow us to achieve our long-term growth objectives, both organically and through potential future acquisitions."

"After managing through the extraordinarily difficult business climate in 2008 and 2009, we are very pleased that our strategic review process has resulted in this promising initial transaction," concluded Brooks.  "We welcome our new team members and will rely on the knowledge and experience of our combined management team as we seek to build our Company into a leader in the precision laser-based contract manufacturing industry."

About United American Healthcare Corporation

United American Healthcare Corporation (UAHC) is a provider of contract manufacturing services to the medical device industry, following its June 2010 acquisition of Pulse Systems, LLC, a leading provider to the medical device industry since 1998.  UAHC has been a healthcare management company since 1985.  For more information, please visit the Company's web site at  

United American Healthcare Corporation Safe Harbor Statement

Forward-looking statements by United American Healthcare Corporation, including those in this announcement, involve known and unknown risks, which may cause actual results and corporate developments to differ materially from those expected. Factors that could cause results and developments to differ materially from expectations include, without limitation, the ongoing impact of the U.S. recession, the termination of the TennCare contract, the wind down of our CMS Medicare business, the integration of the recent acquisition of Pulse Systems, LLC,  the ongoing impact of the global credit and financial crisis and other changes in general economic conditions,  the effects of state and federal regulations, the effects of any future acquisitions, and other risks described from time to time in each of United American Healthcare's SEC reports, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and current reports on Form 8-K.

SOURCE United American Healthcare Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Romark Initiates Clinical Trial of Alinia(R) for Chronic Hepatitis C in the United States
2. R-CALF United Stockgrowers of America: Fighting for the U.S. Cattle Producer
3. United States, Canada and Mexico Agree to Mutual Assistance During Public Health Emergencies
4. Parker Waichman Alonso LLP and Affiliated Lawfirms Have Filed a Class Action Lawsuit in the United States District Court for the Eastern District of New York Against Merck & Co., Inc. and Schering-Plough Corporation
5. Peptimmune Announces Grant of United States Patent for PI-2301 Peptide Copolymer for Multiple Sclerosis
6. A First-Line Therapy for Renal Cell Carcinoma that can Increase Overall Survival when Compared with Sutent Would Earn a Higher Patient Share in the United States Than in Europe
7. American Oriental Bioengineering to Initiate a Phase One Clinical Trial in the United States of AOBO-001 Oral Capsule
8. Premier Research Expands its Medical Device Operations to the United States
9. Watson Announces United States Availability of RAPAFLO(TM) (silodosin), a Novel New Treatment in Benign Prostatic Hyperplasia (BPH)
10. United States Patent and Trademark Office Publishes Stemedicas Patent Application for the Treatment of Diabetic Retinopathy
11. EMD Serono Submits Application for Cladribine Tablets as a Potential Oral Short-Course Multiple Sclerosis Therapy in the United States
Post Your Comments:
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... announced the addition of the  "2016 ... the Global Cell Surface Testing Market: ... report to their offering.  --> ... addition of the  "2016 Future Horizons ...
(Date:11/26/2015)... , Nov. 26, 2015 Research and ... the "Advanced Wound Care Market by Type (Dressings, ... End User (In-Patient Facility, Out-Patient Facility), and Geography - ... --> --> ... description, definition and forecast of the global advanced wound ...
(Date:11/26/2015)... , November 26, 2015 ... the "Self Administration of High Viscosity Drugs" ... ) has announced the addition of the ... report to their offering. --> Research ... addition of the "Self Administration of High ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... , ... MPWH, the No.1 Herpes-only dating community in the world, revealed that over 50% of ... than 3.7 billion people under the age of 50 – or 67% of the population ... global estimates of HSV-1 infection . , "The data shocks us highly!" said Michelle ...
(Date:11/27/2015)... DE (PRWEB) , ... November 27, 2015 , ... ... member of the well-respected Microsoft Dynamics SL User Group (MSDSLUG). Recognized as Microsoft’s ... an independent group of Microsoft Dynamics SL software users, partners, industry experts and ...
(Date:11/27/2015)... MINNEAPOLIS, Minn. (PRWEB) , ... November 27, 2015 ... ... you start failing. Secura Consultants has prided itself for not only fulfilling the ... best income protection solutions at an affordable price and providing top-tier customer service. ...
(Date:11/27/2015)... ... ... CBD College is proud to announce that on November 20th, ... its Diagnostic Medical Sonography program. CBD College is honored to join this very short ... universities in the state of California make the cut. CBD College is officially the ...
(Date:11/27/2015)... ... November 27, 2015 , ... Dr. Thomas Dunlap ... and Dr. Tucker Bierbaum with Emergency Medicine at St., Joseph Health System’s ... STEMI and Sepsis conditions present in similar ways and require time-critical intervention to avoid ...
Breaking Medicine News(10 mins):