posted
Equity Technologies & Resources, Inc., Announces Binding Letter of Intent with MB Holding Corporation, Owner of VPS Holding, LLC and Envoii Healthcare, LLC Thursday June 15, 4:38 pm ET
LEXINGTON, Ky., June 15 /PRNewswire-FirstCall/ -- Equity Technologies & Resources, Inc., (Pink Sheets: ETCR.PK - News) President James Kemper Millard announced today that Equity Technologies & Resources, Inc. has entered into a binding letter of intent to acquire VPS Holding, LLC (VPSH), a Kentucky limited liability company, and Envoii Healthcare, LLC (EHLLC), a Nevada limited liability company, through an exchange of stock with MB Holding Corporation, a Nevada Corporation, the owner of VPSH and EHLLC. The transaction is expected to be consummated on or before June 30, 2006. ADVERTISEMENT
"We are excited to enter into this Binding Letter of Intent to acquire the companies that developed technology and led the consortium to conduct the first prescription drug monitoring pilot project in real time in the United States. For this project to have been conducted in two counties, Harlan and Perry, in the Appalachian Region of Eastern Kentucky, we could not be more proud to make this announcement.".
"All parties to this binding letter of intent will be working a fast track to complete the necessary steps with the attorney's, accountants and auditors by the end of this quarter We anticipate additional announcements prior to June 30th".
The pilot project was successfully conducted at medical, clinical, and pharmacy facilities in Kentucky's Perry and Harlan counties on a voluntary basis, under a contract with the Commonwealth of Kentucky. "The revolutionary Veriscrip(TM) technology provides immediate ('real time') data delivery when the practitioner writes the prescription and again when it is filled by the pharmacist. The information is conveyed instantly to the regulator. Real-time reporting dramatically reduces an investigation of potential diversion from weeks and months to minutes," Millard emphasized. "In addition, the positive results of real-time monitoring will significantly improve patient care by preventing drug-drug interaction and by eliminating the risk of misread prescriptions, while assuring patient privacy protection and compliance with all HIPAA requirements."
This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. While these statements reflect the Company's best current judgment, they are subject to risks and uncertainties. Actual results may differ significantly from projected results due to a number of factors, including, but not limited to assumptions beliefs and opinions relating to the business and growth strategy of Equity Technologies & Resources, Inc. and implementation thereof, based upon the Company's interpretation and analysis of financial and market conditions, the decisions of businesses with whom the Company is either engaged in business with or negotiating, healthcare industry trends and management's ability to successfully finance, develop, market, sell and implement its e-commerce and internet solutions, clinical and financial e-transaction services and software applications to physicians, pharmacies, governmental agencies, laboratories, insurance companies, HMOs, and payers. These factors and other risk factors are more fully discussed in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any intent or obligation to update any forward-looking statements. -------------------------------------------------------------------------------- Source: Equity Technologies & Resources, Inc.
Topic Closed
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
