HOUSTON, Aug. 10, 2005 (PRIMEZONE) -- Complete Care Medical, Inc. (Pink Sheets:CCMI) is pleased to announce that it has reached an agreement to acquire International Medical Devices, Inc.
International Medical Devices, Inc., located in San Antonio, Texas, is a leading importer and marketer of Medicare-approved medical devices that are used to monitor and treat chronic conditions. At the closing of the acquisition, International Medical Devices will operate as a free standing, wholly owned subsidiary of Complete Care Medical.
As International Medical Devices is the exclusive provider of diabetes monitoring products to Complete Care Medical subsidiary, Diabetes Gold, Inc., the acquisition is expected to have an immediate positive impact on Diabetes Gold's cost of goods sold and its cost of supporting inventory. International Medical Devices also brings with it a highly successful direct sales staff, which will be directly involved with all new Complete Care Medical sales initiatives. In addition to the existing product line, Complete Care Medical will have continual access to new medical devices through most-favored nations understandings with International Medical Devices supply side affiliates.
"The link between Complete Care and International Medical Devices will immediately impact our bottom line through operating and supply side efficiencies," said J.P. Monteverde, CEO of Complete Care Medical, Inc. "Long term, this affiliation with a leading medical device supplier and marketer will give us a pipeline full of new proprietary medical products to sell to our established customer base."
Through its subsidiaries, Complete Care Medical, Inc. provides patients in all 50 states with lower cost alternatives for disease management, medical supplies and prescription pharmaceuticals. In addition, Complete Care Medical's discount services and medication program offers healthcare payers, healthcare providers, healthcare professionals and patients with easy access to utilization and compliance data in order to improve patient outcomes and improve quality of life.
For more information: www.ccmedicalinc.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
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