Speedus Engages Morgan Joseph to Evaluate Strategic Alternatives for Zargis Subsidiary
February 03 2010 - 8:26AM
PR Newswire (US)
FREEHOLD, N.J., Feb. 3 /PRNewswire-FirstCall/ -- Speedus Corp.
(NASDAQ: SPDE), announced today that it has engaged Morgan Joseph
& Co. Inc., a full service investment bank, to evaluate
strategic alternatives available to maximize shareholder value with
respect to Speedus Corp's subsidiary, Zargis Medical Corp. Zargis
has created the world's first FDA-cleared medical software to
identify and classify suspected systolic and diastolic heart
murmurs and is the co-recipient of Popular Science magazine's 2009
"Innovation of the Year" award. "We are very pleased to have Morgan
Joseph serve as our financial advisor as we explore options to
optimize the value of Zargis for Speedus shareholders. Morgan
Joseph is a leading middle market investment bank with expertise in
the medical device and healthcare technology sectors," stated Shant
Hovnanian, Chairman & CEO of Speedus. According to Mitchell
Stern, a Managing Director in Morgan Joseph's Healthcare Investment
Banking Group, "Medical technology companies continue to attract
interest, particularly when their technologies provide an
opportunity to improve care while lowering systemic costs and offer
applications for the home health and telemedicine markets. Zargis
is well-positioned for growth within all of these arenas. There's
no question that it's a good time to explore opportunities for
Zargis." About Morgan Joseph & Co. Inc. Morgan Joseph & Co.
Inc. is a full service investment banking firm with over 120
employees in 11 offices dedicated to serving middle market
companies. The firm's primary focus is on providing financial
advisory and capital raising services in the U.S., Asia and Europe.
Our services include mergers and acquisitions advice, restructuring
advice, private placements and public offerings of debt and equity.
For its institutional investor clients, Morgan Joseph provides a
full range of sales and execution services, including equity
research and specialized reports. For more information go to
http://www.morganjoseph.com/. About Speedus Corp. Speedus Corp.
(NASDAQ:SPDE) operates through its two majority subsidiaries,
Zargis Medical Corp. and Density Dynamics, Inc. Additional
information on Speedus Corp. may be obtained at
http://www.speedus.com/ or by contacting Peter Hodge at
888-773-3669 (ext. 23) or . FORWARD-LOOKING STATEMENTS This press
release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, including,
without limitation, statements relating to the expected benefits of
the Company's new relationship with Morgan Joseph & Co., Inc.,
including the effect of this relationship on the Company's future
strategic plans, as well as statements that contain words such as
"expect," "fully expect," "expected," "appears," "believe," "plan,"
"anticipate," "would," "goal," "potential," "potentially," "range,"
"pursuit," or "preliminarily." These forward-looking statements are
subject to risks and uncertainties, including the risks and
uncertainties that the Company's relationship with Morgan Joseph
& Co, Inc., will not have the expected beneficial impact on the
Company or on its future strategic goals, as well as the risks and
uncertainties set forth in our Annual Report on Form 10-K filed
October 13th, 2009, particularly those identified in Risk Factors
Affecting Our Business. There can be no assurance that any
expectation, express or implied, in a forward-looking statement
will prove correct or that the contemplated event or result will
occur as anticipated. DATASOURCE: Speedus Corp. CONTACT: Peter
Hodge, +1-888-773-3669, ext. 23, Web Site: http://www.speedus.com/
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