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United American Healthcare Corporation Announces Acquisition of Pulse Systems, LLC
Date:6/18/2010

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 con
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SOURCE United American Healthcare Corporation
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