AVAL:
Thursday January 7, 1:15 pm Eastern Time
Company Press Release
Avalon Group Announces Acquisition Agreement With Appropriate Health Services.com, Inc.
CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--Jan. 7, 1999--Avalon Group, Inc. (AVAL-OTC Bulletin Board) has entered into a Memorandum of Understanding for the planned acquisition of Avalon by Appropriate Health Services.com, Inc. (AHS), a privately-held corporation based in Sierra Madre, Calif.
The acquisition is expected to be concluded in February following the completion of a final due diligence process and all relevant securities compliance. Shareholders of Avalon stock will receive further details in the coming weeks, including a proxy statement regarding the proposed acquisition plans.
The current management and employees of Avalon will be offered positions with AHS. AHS is in discussions with a leading U.S. investment banking firm concerning business growth, capitalization and business plan implementation.
Avalon Group, Inc. is a company that designs and markets technology solutions for customers in a variety of industries. The company's first major product, the X-po!™ kiosk, was launched in 1998 as a state-of-the-art, interactive kiosk that is Internet-ready and uses standard personal computer (PC) architecture.
Appropriate Health Services.com, Inc. is in the business of acquiring health and health care-related businesses.
This release contains forward-looking statements that involve risks and uncertainties and actual results may be materially different. Investors are encouraged to perform comprehensive due diligence before making investment decisions.
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