Medisafe 1 Technologies Corp. (OTC:MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today, in a press release, that it has received an unsolicited buy-out of all the outstanding shares of the Company at $0.33 per share subject to final due diligence of the Companys technology and other regulatory issues by a European based Investment House. Medisafe1 closed on March 18, 2011 at $0.14 per share and averages nearly 191,000 shares traded per day. The company has a market cap of $7 million and a 52-week range between $0.11 and $0.45 per share.Medisafe 1's management team and the Buying entity are currently conducting due diligence and should be able to provide to its shareholders further details in the coming weeks.
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
For more information, please visit the company’s site: www.medisafe1.com.
No comments:
Post a Comment