Andover Medical signed a Letter of Intent to Purchase a Minority Interest in 4BMC.NORTH ANDOVER North Andover (ăn`dōvər), town (1990 pop. 22,792), Essex co., NE Mass., on the Merrimack River, in a dairy and farm area; settled c.1644, set off from Andover and inc. 1855. , Mass. -- Andover Medical, Inc. (AMI) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADOV) announced today that it has entered into a letter of intent with Brooks Ventures to purchase its 15% holding of 4B Med'Concept (4BMC (BMC Software, Inc., Houston, TX, www.bmc.com) A leading supplier of software that supports and improves the availability, performance, and recovery of applications in complex computing environments. )-- a French Durable Medical Equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: DME - Distributed Management Environment ) distribution supply company. With this relationship, AMI hopes to explore prospective outlets for its products and services in the European market. Robert G. Coffill, director of AMI, stated the investment in 4BMC provides the Company a gateway to the European Common Market. "It is our desire to expand our understanding of the European DME market to decide how AMI should make future investments." A spokesperson for Brooks Ventures--an affiliate of a principal AMI shareholder-- stated "we believe this combination will aid Andover in evaluating the distribution channel for DME in the $2 billion European orthopedic orthopedic /or·tho·pe·dic/ (-pe´dik) pertaining to the correction of deformities of the musculoskeletal system; pertaining to orthopedics. , podiatric and urological markets." About 4BMC Established in 2004, 4BMC is a privately held French company that distributes and services orthopedic devices and soft goods soft goods pl.n. See dry goods. Noun 1. soft goods - textiles or clothing and related merchandise drygoods commodity, trade good, good - articles of commerce to France and other European nations. About Andover Medical, Inc. Andover Medical, Inc. (AMI) is building a single source provider of orthopedic, podiatric and urological durable medical equipment and incontinence incontinence Inability to control excretion. Starting and stopping urination relies on normal function in pelvic and abdominal muscles, diaphragm, and control nerves. Babies' nervous systems are too immature for urinary control. Later incontinence may reflect disorders (e.g. treatment solutions. The Company intends to establish a nationwide subsidiary network and plans to offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products. For more information, please call (978) 557-1001 or visit www.andovermedical.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These forward looking statements include: AMI hopes to explore prospective outlets for its products and services in the European Market; it is our desire to expand our understanding of the European DME market to decide how AMI should make future investments; and plans to offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products. All forward-looking statements speak only as of the date of this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of AMI and its affiliates to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors which, could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. |
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