Degama Enters Into LOI to Acquire Igeacare Systems Inc. of Richmond Hill Canada
May 06 2009 - 9:00AM
Marketwired
Degama Software Solutions Inc., (PINK SHEETS: DGMA) has entered
into a Letter of Intent to acquire all the issued and outstanding
shares of IgeaCare Systems Inc. in an all stock transaction.
IgeaCare Systems Inc. is a manufacturer and distributor of
telephony based products with a primary focus on the healthcare
sector. Their flagship product, the "igeacom", is the world's first
line powered telephony based nurse call and has been sold
throughout North America since 2004.
Under the terms of the LOI, IgeaCare Systems Inc. shall spin out
their Telehealth division, Healthanywhere, prior to the closing of
the transaction.
The LOI stipulates various conditions that will need to be met
in order to complete the transaction and it is anticipated that the
actual transaction shall take up to 30 days to complete.
Additional details shall be released in due course.
About IgeaCare Systems Inc.
IgeaCare Systems Inc manufactures state-of-the-art telephony
based communication systems with a focus on the Healthcare, Public
Safety, Education, and Retail sectors. Our technology coupled with
our strategic partnerships, enables us to deliver one of the most
robust and versatile product portfolios in IT and Communications
today.
visit: www.igeacare.com
This press release contains forward-looking information within
the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934 and is subject
to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. For those statements, the Company claims the
protection of the safe harbor for forward-looking statements
provisions contained in the Private Securities Litigation Reform
Act of 1995 and any amendments thereto. Such forward-looking
statements by definition involve risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from the
future results, performance or achievements expressed or implied by
such forward-looking statements. In particular, there is no
assurance that production, pricing levels or other factors
pertaining to the manufacturing and retail operations will be
sustained at the expected rates or levels over time. Discussions of
factors, which may affect future results, are contained in the
Company's most recent SEC filings.
Contacts: Degama Software Solutions Inc. Peter Preston
416-841-5414 ppreston@degamasoftware.com IgeaCare Systems Inc. Ed
Ruzic CFO 905-747-2222 www.igeacare.com
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