Baxa and CDEX Announce Strategic Alignment
11/2/2005 12:00:01 PM
ENGLEWOOD, Colo. & ROCKVILLE, Md., Nov 02, 2005 (BUSINESS WIRE) -- Baxa Corporation and CDEX Inc. (CEXI) announced today a $1.5 million equity investment by Baxa in CDEX. In addition, the investment agreement provides a vehicle for an additional optional Baxa investment of up to $1 million over the next nine months and an offer to Baxa of a seat on the CDEX Board of Directors. (For additional details, see CDEX's 8K filed with the SEC.)
"We are pleased that Baxa has invested in CDEX and view this decision as a first step toward strategic alignment between Baxa and CDEX," states Malcolm Philips, CDEX's Chairman and CEO. "Baxa is a well-respected name in the medical community and its investment in CDEX will facilitate faster expansion into that and other markets."
"We looked closely at CDEX and found a technological and cultural alignment with our business and values," said Greg Baldwin, Baxa's Chairman and CEO. "This investment marks our confidence in CDEX and its ability to continue to develop innovative products that solve real world problems inside and outside the medical market. We welcome the opportunity to work with CDEX in the future."
About Baxa Corporation
Celebrating 30 years of business in 2005, Baxa Corporation is a Denver-based manufacturer of medical devices and systems for preparing, handling, packaging and administering liquid medications. The company manufactures and markets a wide range of healthcare products for use in hospitals, critical care units and alternate-site pharmacies. Privately held, Baxa Corporation has subsidiaries and sales offices in Canada, the United Kingdom, Denmark, and Germany and distribution partners worldwide. Further information is available at www.baxa.com.
Marian Robinson, Vice President, Marketing
800.567.2292 ext. 2157 or 303.617.2157
Email: Marian.robinson@baxa.com
Maggie Chamberlin Holben, APR
Absolutely Public Relations: 303.984.9801 or 303.669.3558
Email: maggie@absolutelypr.com
About CDEX Inc.
CDEX Inc. is a technology development company with a current focus on developing and marketing products using chemical detection and validation technologies. At present, CDEX is devoting its resources to two distinct areas: (i) identification of substances of concern (e.g., explosives and illegal drugs for homeland security); and (ii) validation of substances for anti-counterfeiting, brand protection and quality assurance (e.g., validation of prescription medication and detection of counterfeit or sub-par products for brand protection). ValiMed is one line of CDEX products for the healthcare market. CDEX is headquartered in Rockville, Maryland with its research and development laboratory in Tucson, Arizona. For more information, visit www.cdex-inc.com and www.valimed.com or contact Jerry Blair at 301.881.0080 (jblair@cdex-inc.com).
Any statements made in this press release which contain information that is not historical are essentially forward-looking. Many forward-looking statements can be identified by the use of words such as "expects," "plans," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks are detailed from time-to-time in filings with the Securities and Exchange Commission. There is no obligation to publicly update any forward-looking statements.
SOURCE: CDEX Inc.
CDEX Inc.
Jerry Blair, 301-881-0080
jblair@cdex-inc.com
Copyright Business Wire 2005
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