PHOENIX and VANCOUVER, British Columbia, Feb. 28, 2014 (GLOBE NEWSWIRE) -- Eternity Healthcare Inc. (OTCBB:ETAH), or the "Company", a medical device and diagnostic company, announced today that it has terminated the Letter of Intent (LOI) agreement with Phoenix-based Global Medical Equipment of America (GMEA). The Letter of Intent was written to acquire 100% of the company through a share exchange.
Eternity Healthcare Inc. and Global Medical Equipment of America signed the Letter of Intent on October 25th, 2013. Eternity Healthcare decided to terminate this agreement because GMEA did not meet the audit and due diligence terms of the agreement.
Dr. Hassan Salari, President and CEO of Eternity Healthcare said, "Our Company has a number of outstanding technologies in development, including a dual sensor saliva based glucose monitoring device. Management concluded it was not a good deal for our shareholders to proceed with GMEA." He went on to state, "Our Company is currently generating revenue by selling our needle-free injection device, and soon will be launching several new products into the healthcare market."
About Eternity Healthcare Inc.
Eternity Healthcare Inc. OTCBB ETAH, a medical device and diagnostic company with technologies that specialize in the field of diabetes management and various other health disease diagnosis as well as medical equipment. Eternity's current focus is on needle-free injection system for the delivery of a vast number injectable drugs. ETAH products are sold to healthcare professionals, for use in physicians' offices, pharmacies, and to consumers directly. ETAH products are all manufactured under strictly compliance with GMP, ISO 9001 and ISO 13485 certifications, with special emphasis on quality control at each and every stage of production.
Safe Harbor Statement
This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as ETAH or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.