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KBL Healthcare Acquisition Corp III
KBL Healthcare Acquisition Corp. III and PRWT Services, Inc. to Engage in Business Combination
NEW YORK and PHILADELPHIA, March 16, 2009 (GLOBE NEWSWIRE) -- KBL Healthcare Acquisition Corp. III ("KBL") (NYSE Alternext US:KHA, KHA-U, KHA-WT), a specified purpose acquisition company (SPAC), today announced that it has entered into a definitive agreement for a business combination with privately-held PRWT Services, Inc. ("PRWT"), a national, diversified enterprise operating in pharmaceutical manufacturing and distribution, facilities management and maintenance services, and business processing services. Founded in 1988, PRWT is a certified minority business enterprise with 18 state and local entities and is certified by the National Minority Supplier Development Council (NMSDC) including 17 regional councils. PRWT will retain its minority-owned status following the consummation of the business combination.