Airtech Signs LOI To Acquire Southern Therapy.Business Editors DALLAS--(BUSINESS WIRE)--Sept. 25, 2000 Airtech International Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AIRG AIRG Association pour l'Information et la Recherche sur les maladies rénales Génétiques AIRG Asociación Independiente de Radiodifusoras Guatemaltecas (Independent Association of Guatemalan Broadcasters) ) announced today it has signed a Letter of Intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) to acquire 100% of Southern Therapy Inc., an Austin, Texas based Home Medical Equipment Provider (HME HME Home Medical Equipment HME Home Media Engine (TiVo) HME Heat and Moisture Exchange HME Hierarchical Mixtures-of-Experts HME Happy Meal Ethernet (UNIX driver) HME Honeymoon Experience ). Airtech CFO See Chief Financial Officer. & General Counsel James Halter, stated, "Southern Therapy is a well managed and mature Company with an impressive track record of selling high end products. The Company has a number of very positive working relationships with Federal, State and Private Insurance carriers. Sales are principally made to qualified Medicare and private insurance beneficiaries through which the Company accepts assignment from Medicare, Medigap and supplementary Insurance Companies. Southern Therapy is very excited about the opportunity to introduce the Airsopure Model S-950 Portable Air Sterilizer sterilizer /ster·i·liz·er/ (ster´i-liz?er) an apparatus for the destruction of microorganisms. ster·il·iz·er n. An apparatus for rendering objects aseptic. to thousands of their customers." Halter added, "The significance of adding Southern Therapy into Airtech's distribution strategy will considerably aid in meeting our fiscal year 2001 financial projections." Under the terms of the Agreement Southern Therapy will also be the Exclusive Distributor of the Airsopure Model S-950 to the Medical Sector. Southern Therapy President Calvin Cole said, "The relationship with Airtech will allow us to be a more single source product oriented Company, and focus on strategic market development, versus being a provider of a broad cross-section of (HME) products. Our industry has seen considerable changes and consolidations. The move to Airtech is not only well timed for us, but will help us bridge the gap between other HME's looking to specialize in patients suffering from chronic upper respiratory problems." Mr. Cole will continue to serve as President. Southern Therapy Chief Financial Officer, James M. Todd stated, "Our revenue is certainly trending upward, due principally to the managed care contracts that are now beginning to realize their potential, and we look forward to continued revenue growth." Southern Therapy is a six year old HME that achieved record sales in excess of $14,000,000 in fiscal 1998, and was ranked second fastest growing private Company in Austin, Texas, by the Austin Business Journal. Some of Southern Therapy's clients are: AARP AARP, a nonprofit, nonpartisan national organization dedicated to "enriching the experience of aging"; membership is open to people age 50 or older. Founded in 1958 by Ethel Percy Andrus as American Association of Retired Persons, AARP now has over 30 million , Aetna, American Republic Insurance, Blue Cross Blue Shield, Hartford, Humana, Pacific Life and Annuity, Prudential Healthcare, United Healthcare, USAA USAA United Services Automobile Association USAA Urban Superintendents Association of America USAA United States Achievement Academy USAA United States Arbitration Act of 1925 USAA United States Axemen's Association USAA United States Air-Table-Hockey Association , Wausau, along with Medicare Region B, Region C, Region D and Medicaid of Texas. Airtech first achieved market recognition with its air purification technology by providing a simple solution using advanced technology and engineering allowing smokers and non-smokers to co-exist in restaurants and bars. Some of its growing corporate customer list include: Host Marriott, Alphagraphics, Bennigan's, TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Friday's, El Chico's, Del Frisco's Double Eagle Steakhouses, Sullivan's, and numerous others. Airtech's primary focus is on hospitality, prints shops, schools, hotels, office buildings, casinos, medical facilities and residences. Airtech International Group, Inc. (www.airtechgroup.com), is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. under the symbol (OTCBB:AIRG). Airsopure, Inc., (www.airsopure.com) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Airtech, was founded in 1997, and has a number of franchisees throughout the United States, Canada, Europe, and Asia. Prospective franchisees or distributors may obtain more information by contacting the Company at 972/960-9400, or Fax: 972/960-9395. Investors may obtain more information by contacting Airtech -- Investor Relations, James Stock, of Stock Enterprises, at 702/614-0003 or via e-mail at stockenter@aol.com. Forward-looking Statements in this document that are not historical fact are "forward-looking statements" as that term is defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform of 1995. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on trends that we anticipate in our industry and our good faith estimate of the effect on these trends of such factors as industry capacity, product demand and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause our actual business and results of operations to differ materially from those reflected in our forward-looking statements. These risks are described in the Company's Form 10-KSB,, and Form SB-2 filed September 8, 2000. |
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