Coastal Capital Acquisition Corporation Announces Letter of Intent to Acquire NBD, Inc.
Market Wire "US Press Releases "
COLUMBUS, GA -- (MARKET WIRE) -- 04/28/08 -- Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) announces that it has executed a Letter of Intent to acquire NBD, Inc., dba Spinal Devices, a privately held medical device company located in Marietta, Georgia.
Chairman, CEO and President of CCAJ, Tim Taylor, comments, "We are pleased as well as excited to announce our first deal with NBD, Inc. and look forward to completing this transaction for several reasons. First, they have a seasoned management team that is competent in the art of medical device design and manufacturing. Second, NBD is a profitable business that has the potential to see explosive growth with the addition of capital, distribution and intellectual property. Thirdly, it allows us to leverage the two companies' current experience and relationships to take advantage of the ten (10) subsidiaries owned by CCAJ. We believe that our shareholders will appreciate this first step more in the months to come as we execute on our business plan."
Tim Lusby, founder, owner, President and CEO of NBD, Inc., stated, "Tim Jenkins, current CFO and partner of NBD, Inc. and I are pleased with what CCAJ offers and the synergies that the board of directors and management team will be able to deliver especially under the guidance and leadership of Tim Taylor. Tim understands the market and the opportunity we have to grow the business with the surgeon contacts and sales pipeline that we have developed over the years. Tim Jenkins, CFO, has been involved with large companies in the past and looks forward to being involved with the growth that is planned for CCAJ and assisting in the daily management of the cash flow and financing of the parent and subsidiaries as the opportunity arises."
Jeff Radcliffe, COO, stated, "This is a great first step with more to be developed in the coming weeks and months ahead. I have known Tim Lusby for a long time since developing his first laparoscopic device over ten years ago and I look forward to working together again in the medical field. The company has a profitable business model with the capability to be a growth story above industry profit margins. Tim Jenkins is a diamond in the rough given his background with a large medical company in the M & A department. These two guys will be welcome additions to CCAJ's management team."
The company has moved its address and phone number to:
Coastal Capital Acquisition Corporation
725 First Avenue
Columbus, GA 31901
(706) 987-8100 |
