Medical Alarm Concepts and FirstFitness Nutrition Sign Letter of Intent for Highly Accretive Merger
Poster: SySAdmin
Posted on November 9, 2011 at 9:14:01 AM
Medical Alarm Concepts and FirstFitness Nutrition Sign Letter of Intent for Highly Accretive Merger
KING OF PRUSSIA, Pa., Nov. 9, 2011 /PRNewswire/ -- Medical Alarm Concepts Holdings, Inc. (OTCQB:MDHI), today announces the signing of a non-binding letter of intent outlining its plan to merge with Carrollton, Texas-based FirstFitness Nutrition Inc., a leading provider of weight loss, wellness, and energy and fitness nutritional products. FirstFitness Nutrition was founded by nutritional industry pioneer Lee Causey, who also serves as Chairman of the organization. The Company has more than a 21-year history in the nutritional field and currently operates in all fifty U.S. states. Their marketing initiatives currently support thousands of independent distributors who sell the Company's products to tens of thousands of customers.
Under the terms of the agreement, a new subsidiary named FirstFitness Nutrition will be created within Medical Alarm Concepts Holdings, Inc. to be headed by current FirstFitness President and CEO Nigel Branson. Current CEO of Medical Alarm Concepts, Howard Teicher will assume the role of President and CEO of Medical Alarm Concepts, Inc. and a new CEO for the combined operation will be named upon closing of the merger. The proposed merger is expected to be highly accretive for current Medical Alarm Concepts shareholders with the newly combined operation producing in excess of $10 million of revenue per year.
Medical Alarm Concepts' recently announced plans to return its MediPendant(TM) product to the television airwaves in early December. in conjunction with leading direct response television marketing company, Harrington Multimedia, will not be affected. Current shareholders of Medical Alarm Concepts Holding are expected to retain approximately 50% of the post merge common shares in the resulting new organization.
"We are very excited to be combining operations with Medical Alarm Concepts as doing so will allow us to expand the distribution of our current products and enhance our brand both domestically and internationally, while allowing us to accelerate the introduction of several new products and marketing programs that we believe hold tremendous potential," commented Mr. Branson. "Core to our guiding principles is our pledge to always offer products that meet the highest and most exacting standards of quality, purity and effectiveness while allowing our distributors the freedom to pursue and realize their dreams. We believe this merger will allow us to significantly expand our business operations while adhering to these important guiding principles that have served us so well through out our more than 21 years in existence."
Mr. Howard Teicher, commented, "We believe this merger is highly beneficial to current Medical Alarm Concepts shareholders as it will meaningfully and immediately boost our corporate revenues. Our plans to launch our MediPendant(TM) product via our new television campaign and through several new high profile retailers remains unchanged, as those programs continue to progress in a meaningful fashion. We could not be more pleased with this proposed merger and greatly look forward to working with the FirstFitness Nutrition team to ensure success for our current and future shareholders, and all of the stakeholders in the FirstFitness Nutrition organization."
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. (MAC) develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. MediPendant's(TM) patented two-way voice technology enables the user to speak and listen directly through the pendant no matter where the user may be in and around their home. MediPendant(TM) service also includes advanced features such as three-way calling that enables the operator to link loved ones directly into the emergency call in real time. Text message alerts are also standard, and are used to inform loved ones that the user has contacted an operator or has requested assistance. A standard PERS system does not enable the user to speak and listen through the pendant, thus limiting them to a small area in their home. For more information, please visit our website at http://www.medalarmco.com.
About FirstFitness Nutrition
FirstFitness Nutrition, headquartered in Carrollton, Texas is a leading provider of wellness, weight loss, and energy and fitness products. Chairman of FirstFitness Nutrition, Lee Causey, is a pioneer in the weight loss and sports nutrition industries. In the early 1960s, he began to lay the groundwork for the FIRST EVER "diet shake," a product, which today is manufactured by hundreds of companies, and responsible for generating billions of dollars in sales worldwide.
Before long, Lee became known as a wellness expert to many celebrities, athletes and notable leaders. In the 70s, he broke new ground with the creation of his first nutritional company "Slender Now," which was touted by the Wall Street Journal as the fastest growing privately held company in history. He has since created more than 300 nutritional and weight loss products and, along with Nigel Branson, founded FirstFitness Nutrition in 1989. The Company distributes its products via a dynamic sales channel consisting of more than 5,000 dedicated men and women who market the products to consumers in all fifty U.S. states. For more information on FirstFitness Nutrition please visit the Company's website at http://www.firstfitness.com.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The letter of intent outlined in this press release is nonbinding on either party, and while both parties intend for the merger to be consummated, there is no assurance that a definitive agreement will take place. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
Medical Alarm Concepts Holding, Inc.
(877) 639 2929
SOURCE Medical Alarm Concepts Holdings, Inc.
Medical Alarm Concepts Holdings, Inc.
Web Site: http://www.firstfitness.com
KING OF PRUSSIA, Pa., Nov. 9, 2011 /PRNewswire/ -- Medical Alarm Concepts Holdings, Inc. (OTCQB:MDHI), today announces the signing of a non-binding letter of intent outlining its plan to merge with Carrollton, Texas-based FirstFitness Nutrition Inc., a leading provider of weight loss, wellness, and energy and fitness nutritional products. FirstFitness Nutrition was founded by nutritional industry pioneer Lee Causey, who also serves as Chairman of the organization. The Company has more than a 21-year history in the nutritional field and currently operates in all fifty U.S. states. Their marketing initiatives currently support thousands of independent distributors who sell the Company's products to tens of thousands of customers.
Under the terms of the agreement, a new subsidiary named FirstFitness Nutrition will be created within Medical Alarm Concepts Holdings, Inc. to be headed by current FirstFitness President and CEO Nigel Branson. Current CEO of Medical Alarm Concepts, Howard Teicher will assume the role of President and CEO of Medical Alarm Concepts, Inc. and a new CEO for the combined operation will be named upon closing of the merger. The proposed merger is expected to be highly accretive for current Medical Alarm Concepts shareholders with the newly combined operation producing in excess of $10 million of revenue per year.
Medical Alarm Concepts' recently announced plans to return its MediPendant(TM) product to the television airwaves in early December. in conjunction with leading direct response television marketing company, Harrington Multimedia, will not be affected. Current shareholders of Medical Alarm Concepts Holding are expected to retain approximately 50% of the post merge common shares in the resulting new organization.
"We are very excited to be combining operations with Medical Alarm Concepts as doing so will allow us to expand the distribution of our current products and enhance our brand both domestically and internationally, while allowing us to accelerate the introduction of several new products and marketing programs that we believe hold tremendous potential," commented Mr. Branson. "Core to our guiding principles is our pledge to always offer products that meet the highest and most exacting standards of quality, purity and effectiveness while allowing our distributors the freedom to pursue and realize their dreams. We believe this merger will allow us to significantly expand our business operations while adhering to these important guiding principles that have served us so well through out our more than 21 years in existence."
Mr. Howard Teicher, commented, "We believe this merger is highly beneficial to current Medical Alarm Concepts shareholders as it will meaningfully and immediately boost our corporate revenues. Our plans to launch our MediPendant(TM) product via our new television campaign and through several new high profile retailers remains unchanged, as those programs continue to progress in a meaningful fashion. We could not be more pleased with this proposed merger and greatly look forward to working with the FirstFitness Nutrition team to ensure success for our current and future shareholders, and all of the stakeholders in the FirstFitness Nutrition organization."
About Medical Alarm Concepts
Medical Alarm Concepts Holdings, Inc. (MAC) develops and manufactures innovative products and practical solutions within the framework of a vast growing marketplace. MediPendant's(TM) patented two-way voice technology enables the user to speak and listen directly through the pendant no matter where the user may be in and around their home. MediPendant(TM) service also includes advanced features such as three-way calling that enables the operator to link loved ones directly into the emergency call in real time. Text message alerts are also standard, and are used to inform loved ones that the user has contacted an operator or has requested assistance. A standard PERS system does not enable the user to speak and listen through the pendant, thus limiting them to a small area in their home. For more information, please visit our website at http://www.medalarmco.com.
About FirstFitness Nutrition
FirstFitness Nutrition, headquartered in Carrollton, Texas is a leading provider of wellness, weight loss, and energy and fitness products. Chairman of FirstFitness Nutrition, Lee Causey, is a pioneer in the weight loss and sports nutrition industries. In the early 1960s, he began to lay the groundwork for the FIRST EVER "diet shake," a product, which today is manufactured by hundreds of companies, and responsible for generating billions of dollars in sales worldwide.
Before long, Lee became known as a wellness expert to many celebrities, athletes and notable leaders. In the 70s, he broke new ground with the creation of his first nutritional company "Slender Now," which was touted by the Wall Street Journal as the fastest growing privately held company in history. He has since created more than 300 nutritional and weight loss products and, along with Nigel Branson, founded FirstFitness Nutrition in 1989. The Company distributes its products via a dynamic sales channel consisting of more than 5,000 dedicated men and women who market the products to consumers in all fifty U.S. states. For more information on FirstFitness Nutrition please visit the Company's website at http://www.firstfitness.com.
Safe Harbor Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward-looking. The letter of intent outlined in this press release is nonbinding on either party, and while both parties intend for the merger to be consummated, there is no assurance that a definitive agreement will take place. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.
Contact:
Medical Alarm Concepts Holding, Inc.
(877) 639 2929
SOURCE Medical Alarm Concepts Holdings, Inc.
Medical Alarm Concepts Holdings, Inc.
Web Site: http://www.firstfitness.com