Press Release Source: PTS, Inc.
PTS, Inc. Announces Signing LOI to Acquire Strategic Healthcare Systems, Inc.
Friday February 23, 9:00 am ET
LAS VEGAS--(BUSINESS WIRE)--PTS, Inc. (OTCBB: PTSH - News) today announced they have signed a LOI (Letter of Intent) with San Jose, California-based Strategic Healthcare Systems, Inc. (Pink Sheets: SHCS - News), for PTS, Inc. to acquire the Company. The closing of this transaction is expected to be completed on or before May 31, 2007. An 8K filing made today reporting under ITEM 8.01 (OTHER EVENTS) provides further details related to the terms of this transaction and LOI.
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Strategic Healthcare Systems, Inc. was founded by Chairman and CEO, Dr. Albert A. Gomez, in 1994 specifically to increase access to affordable quality healthcare for all Americans and immigrants. Strategic Healthcare Systems lowers healthcare costs by passing the savings gained from advances in medical science, diagnostic imaging and medical technology through to the consumer. The company currently has five clinics in California: Walnut Creek, Salinas, Manteca, San Francisco and San Jose.
The terms of the acquisition, as defined in the LOI between SHCS and PTSH, call for SHCS to transfer 88.33% ownership and controlling interests held by Dr. Gomez of SHCS to PTSH in exchange for a promissory note in the amount of $3,500,000 from PTSH and 3,500,000 shares of PTSH Series E Preferred stock to secure the note.
Peter Chin, CEO of PTS, Inc., stated, "We are happy to have been able to make this transaction with Strategic Healthcare Systems. Going forward, this should give our shareholders additional growth opportunity, as well as providing some important synergistic diversity to our subsidiaries\' operations."
About Strategic Healthcare Systems, Inc.
Strategic Healthcare Systems, Inc. was created to provide solutions to the crisis in America of double-digit medical inflation and the spiraling cost of health insurance. The Company coordinates the interaction of physicians and patients with its core group of medical companies forming a virtual vertically integrated healthcare delivery system. Strategic\'s business model improves quality in healthcare because it focuses on strengthening the doctor-patient relationship. Please visit: www.shsmedical.net/
PTS, Inc. Announces Signing LOI to Acquire Strategic Healthcare Systems, Inc.
Friday February 23, 9:00 am ET
LAS VEGAS--(BUSINESS WIRE)--PTS, Inc. (OTCBB: PTSH - News) today announced they have signed a LOI (Letter of Intent) with San Jose, California-based Strategic Healthcare Systems, Inc. (Pink Sheets: SHCS - News), for PTS, Inc. to acquire the Company. The closing of this transaction is expected to be completed on or before May 31, 2007. An 8K filing made today reporting under ITEM 8.01 (OTHER EVENTS) provides further details related to the terms of this transaction and LOI.
ADVERTISEMENT
Strategic Healthcare Systems, Inc. was founded by Chairman and CEO, Dr. Albert A. Gomez, in 1994 specifically to increase access to affordable quality healthcare for all Americans and immigrants. Strategic Healthcare Systems lowers healthcare costs by passing the savings gained from advances in medical science, diagnostic imaging and medical technology through to the consumer. The company currently has five clinics in California: Walnut Creek, Salinas, Manteca, San Francisco and San Jose.
The terms of the acquisition, as defined in the LOI between SHCS and PTSH, call for SHCS to transfer 88.33% ownership and controlling interests held by Dr. Gomez of SHCS to PTSH in exchange for a promissory note in the amount of $3,500,000 from PTSH and 3,500,000 shares of PTSH Series E Preferred stock to secure the note.
Peter Chin, CEO of PTS, Inc., stated, "We are happy to have been able to make this transaction with Strategic Healthcare Systems. Going forward, this should give our shareholders additional growth opportunity, as well as providing some important synergistic diversity to our subsidiaries\' operations."
About Strategic Healthcare Systems, Inc.
Strategic Healthcare Systems, Inc. was created to provide solutions to the crisis in America of double-digit medical inflation and the spiraling cost of health insurance. The Company coordinates the interaction of physicians and patients with its core group of medical companies forming a virtual vertically integrated healthcare delivery system. Strategic\'s business model improves quality in healthcare because it focuses on strengthening the doctor-patient relationship. Please visit: www.shsmedical.net/
