HEALTHWATCH ANNOUNCES PLANNED ACQUISITION OF METAMED INC.
BROOMFIELD, Colo., July 29 /PRNewswire/ -- HealthWatch Inc. (NASDAQ: HEAL) today announced that it has entered into an agreement for the acquisition of METAMED Inc., an early stage company with patented technology in the infusion therapy business. METAMED products, which are in the developmental stage, are low-cost IV (Intravenous) therapy products which eliminate the need for expensive, proprietary IV sets. HealthWatch believes that the combination of its existing Cardiology and Vascular analysis products and METAMED's infusion therapy products position HealthWatch for the challenges ahead in lowering the costs of health care. The acquisition of METAMED will also allow HealthWatch to participate in the higher growth areas of the international marketplace using HealthWatch's strong international distribution channels. The acquisition, which is expected to be complete in August, provides for the issuance of 2,500,000 shares of HealthWatch's common stock to the METAMED stockholders. In making the announcement, Sanford Schwartz, chairman of HealthWatch Inc., stated, "This acquisition will position us into the new era where technology is applied to meet the rapidly changing needs of the marketplace, particularly where it relates to cost." The company plans to introduce the new METAMED product line, during the current fiscal year ending June 1994. Based in Broomfield, HealthWatch is a developer and distributor of medical instrumentation used in the screening, diagnosis and management of human cardiovascular disease. -0- 7/29/93 /CONTACT: Sanford L. Schwartz, chairman of HealthWatch, 303-465-2000/ (HEAL)
CO: HealthWatch Inc.; METAMED Inc. ST: Colorado IN: HEA SU: TNM
LS-LM -- LA007 -- 7132 07/29/93 09:01 EDT
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|Date:||Jul 29, 1993|
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