Thursday November 12, 6:27 AM (EST)
The Health Channel Makes Bid To Buy BioLogix
SAN FRANCISCO (Nov. 12) BW HEALTHWIRE -Nov. 12, 1998--BioLogix International, Ltd. (OTCBB:BGIX), reports it has received a tender offer from Internet innovator The Health Channel(TM) to be acquired for $10 Million. The announcement comes on the heals of BioLogix recent business reorganization and strategic initiatives into on-line healthcare information, products and services; sometimes referred to as "e-health."
Although subject to shareholder approval, the deal appears to be a potential windfall for both companies. Under the terms of a proposed leveraged buy-out The Health Channel(TM) would acquire approximately $7.6 Million in assets and nearly $1 Million in revenues; both of which are considered necessary for THC to accelerate its own proposed registration and initial public offering (IPO). At the same time, the BioLogix shareholders could receive a dramatically higher value for their current investment in the form of cash and stock worth over $1.50 per share. BioLogix is reported to have approximately 6.5 million issued and outstanding shares following completion of its recent reorganization, and is presently traded on the over-the-counter bulletin board market between $.10 and $.12 per share on a "pre-filing" basis.
Further announcements are expected and all registered BioLogix shareholders as of December 31, 1998 will be entitled to vote on and receive benefit from the deal. For more information please contact Investor Relations at 1-800-828-BGIX or visit the Web-sites www.biologix.net and www.thehealthchannel.com.
As a disclaimer, the public is asked to note that included in this announcement are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Accordingly, although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct.
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CONTACT: BioLogix International, Ltd.
Investor Relations, 800/828-BGIX
www.biologix.net
www.thehealthchannel.com
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: BIOTECHNOLOGY MEDICINE PHARMACEUTICAL
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