More news...
Released today at 4:14
(BSNS WIRE) National Boston Medical Inc. Announces Acquisition of Boston
National Boston Medical Inc. Announces Acquisition of Boston Nutriceuticals
Inc.
Business Editors
TAUNTON, Mass.--(BUSINESS WIRE)--Nov. 12, 1998--National Boston
Medical Inc. (OTC BB:NBMXD) announced Thursday its acquisition of
Boston Nutriceuticals Inc., a privately held company.
Boston Nutriceuticals Inc. is in the business of the development,
manufacturing, marketing and distribution of high-quality food
supplements and nutritional products for the retail, wholesale and
private label markets.
Boston Nutriceuticals Inc. boasts an exciting proprietary line of
nutritional and food brand-name products in the areas of lifestyle,
fitness and physical well-being. This, coupled with the ongoing
development of new product lines will help the company command a
significant share of the estimated $6.5 billion nutritional market,
which is expected to grow by more than 10% annually (numbers are
according to Weider Nutrition International's website).
"Traditional medicine is becoming more comfortable with the field
of alternative therapies," said Doug G. Christopher MD, FACS, Medical
Director of National Boston Medical Inc. "The acceptance in the use of
natural pharmaceuticals, including herbs, phytochemicals and
antioxidants is growing at a staggering rate. As the Medical Director
of National Boston Medical Inc., I am pleased with the acquisition of
Boston Nutriceuticals Inc."
In exchange for 100% of issued and outstanding shares of Boston
Nutriceuticals Inc. stock, the ownership of Boston Neutriceuticals
Inc. will receive 700,000 of the common shares of National Boston
Medical Inc. as well as an 8% royalty of gross revenue from existing
formulation. As an incentive to providing continued advisory support,
the ownership may earn an additional 100,000 shares per $5 million in
gross revenue, up to a limit of 500,000 shares.
National Boston Medical Inc.'s management team will assume
management duties for both companies during an interim period,
pending selection of certain company officers.
National Boston Medical Inc. distributes, manufactures and designs infection-reducing medical and dental instruments and personal
care products engineered to enhance public health and hygiene. Their
products include Safeshield(tm) antimicrobial skin protectant cream
and the Bontempi line of surgical and dental instruments.
Except for the historical information presented herein, the
matters set forth in this press release are forward looking statements
within the meaning of the "safe-harbor" provision of the Private
Securities Litigation Reform Act of 1995. These forward looking
statements are subject to risks and uncertainties that may cause
actual results to differ materially. These forward-looking statements
speak only as of the date hereof. The company disclaims any intent or
obligation to update these forward-looking statements. For more
information, contact Tom Raack at Liberty Capital Group, 360/676-8072,
Ext. 1008.
--30--jd/mi*
CONTACT: National Boston Medical Inc., Taunton
Daniel Hoyng, 800/807-2259
508/880-5208 (fax)
or
Liberty Capital Group Inc., Bellingham, Wash.
Tom Raack, 360/676-8072, Ext. 1008
360/676-9493 (fax)
KEYWORD: MASSACHUSETTS FLORIDA
INDUSTRY KEYWORD: MEDICINE MERGERS/ACQ
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story *** |
