DERMA SCIENCES, INC. AND TRANSWORLD HOME HEALTHCARE, INC. SIGN NON-BINDING LETTER OF INTENT.OLD FORGE, Pa, and RED BANK, N.J.--(BUSINESS WIRE)--June 8, 1995-- DERMA der·ma n. See dermis. derma the corium, or true skin. SCIENCES, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq Small Cap Market:DSCI DSCI Decision Science DSCI Digital Serial Communications Interface DSCI Doctor of the Science of Creative Intelligence (Maharishi European Research University) DSCI Days Since Co-Op Incident ) (BSE/PSE:DMS (1) (Document Management System) See document management. (2) (Defense Messaging System) An X.500-compliant messaging system developed by the U.S. Dept. of Defense. ) and TRANSWORLD HOME HEALTHCARE INC. (Nasdaq National Stock Market:TWHH TWHH The Wisconsin Heart Hospital LLC. (Milwaukee metropolitan area) , TWHHW) today jointly announced that they have executed a non-binding Letter of Intent to form a strategic alliance whereby the companies will collaborate on the distribution of wound care products and services to healthcare providers and the managed care industry in the United States. In addition, as part of the contemplated agreement Derma Sciences would issue options to Transworld totalling 2,000,000 shares of Derma Sciences common stock exercisable at $8.00 per share and vesting over the next three years. The Letter of Intent goes on to indicate that Transworld would also become the exclusive distributor of Derma Sciences' products in Puerto Rico and the U.S. Virgin Islands upon execution of the definitive agreement. Robert W. Fine, Vice President and COO of Transworld, and John T. Borthwick, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Derma Sciences, were quoted as saying, "This strategic alliance would enhance both companies in that Derma Sciences will be able to draw on the expertise of Transworld Home HealthCare relative to managed care opportunities, while Transworld Home HealthCare could draw on Derma Sciences clinical and product expertise in the wound care arena. Both companies will benefit from enhanced market penetration through joint proprietary educational programs." TRANSWORLD HOME HEALTHCARE, INC. is a regional supplier of a broad range of alternate site healthcare services and products including respiratory therapy respiratory therapy Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing, , drug infusion therapy, nursing and para-professional services, home medical equipment, radiation and oncology therapy and a nationwide specialized mail order pharmacy. Transworld facilities are located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, Baltimore, Philadelphia and Orlando, Melbourne and Jacksonville, Florida. DERMA SCIENCES, INC. is engaged in the development, marketing and sale of primarily proprietary sprays, ointments and dressings for the management of certain chronic non-healing skin ulcerations Ulcerations Breaks in skin or mucous membranes that are often accompanied by loss of tissue on the surface. Mentioned in: Hypersplenism such as pressure and venous ulcers, surgical incisions and burns. The company markets its products through independent distributors, mainly to healthcare providers to the geriatric community such as nursing homes, similar extended care facilities, hospitals and healthcare agencies throughout the United States. In addition, DERMA SCIENCES, INC.'s products are available in selected markets throughout the world through strategic alliances with local companies. CONTACT: Joseph Raymond, Chairman & CEO Gene Berger, Vice President Transworld Home HealthCare, Inc. (908) 788-9600 or John Borthwick, Pres. Derma Sciences, Inc. (717) 457-1232 or TWHH'S INVESTOR RELATIONS COUNSEL: Linda Latman (212) 836-9609 or L.G. Zangani, Inc. Leonard Zangani (908) 788-9660 |
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