Healthcare of Today Signs Agreement and Plan of Merger with Organ Transport Systems
BURBANK, CA-May 17, 2010-Healthcare of Today, Inc. announces
that it has signed a definitive Agreement and Plan of Merger with
Organ Transport Systems, Inc. (OTS), a biomedical company engaged
in developing, patenting and commercializing portable preservation
and transport technology for human organs. The Agreement and Plan
of Merger has been unanimously approved by the OTS board of
directors and will be voted on by OTS shareholders at a Special
Shareholder Meeting to be held June 2, 2010 at 9:00 AM CDT at the
headquarters of OTS in Frisco, Texas.
Organ Transport Systems, Inc. (www.organtransportsystems.com) aims to increase
the utilization of donor organs through its breakthrough
preservation technology. In published preclinical studies, OTS'
LifeCradle™ device and perfusion solutions have significantly
increased the time for which donor organs can be utilized and
enhanced the health and viability of organs. OTS's LifeCradle™ is
patented in the U.S. with additional patents either granted or
pending internationally. The company is preparing for a European
clinical study with transplant centers in Pamplona, Spain and
Paris, France to be followed by an FDA clinical trial in the United
States at 15 of the major cardiac transplant centers.
The company's technological breakthrough has come at a time when
the rapidly growing organ demand has far exceeded the donor organ
supply. According to the United Network for Organ Sharing (UNOS), a
single donor can donate up to eight solid organs. In spite of the
need for organs, the average organ utilization rate is low, for
example, only 27% of donated hearts are transplanted and only 9% of
lungs, while the U.S. waiting list for organ has grown to over
100,000 people
CEO of Organ Transport Systems Michael B. Holder says, "OTS is
very excited about our plans to join the HOTI team; we share a
commitment to improving the delivery of healthcare as well as
better patient outcomes. A business collaboration between HOTI and
OTS would be beneficial for our shareholders by offering numerous
opportunities to leverage additional corporate, financial, and
marketing resources to strengthen our business, and through that,
create incremental shareholder value. "
Healthcare of Today CEO Henry Jan says, "Every eleven minutes
someone is added to the organ waiting list, yet the majority of
those people never get organs. An efficient healthcare system
cannot allow this to happen if better alternatives exist. We are
proud to partner with OTS to fill in this gap and change the
paradigm of donor organ utilization."
OTS's Board of Directors includes Tommy G. Thompson, former U.S.
Secretary of Health and Human Services and initial leader of the
Donor Organ Breakthrough Collaborative.
About Healthcare of Today
Healthcare of Today is a vertically-integrated healthcare
holding company. Founded in 2008, it has since acquired a number of
companies, many specializing in the senior care industry. Its
subsidiaries are engaged in a wide range of businesses including:
nurse staffing, residential care facilities for the elderly, home
healthcare services, home healthcare equipment sales, healthcare
information technology, medical equipment, healthcare consulting,
insurance, data security, advanced human tissue engineering,
alternative energy (AEGY.ob) and more.
This announcement is not an offer to sell any Healthcare of
Today securities. Offers for any given security are made only
through applicable offering circulars and related supplements filed
with the SEC pursuant to Section 13(a), 13(c) or 14 of the
Securities Exchange Act of 1934.
Healthcare of Today press releases sometimes contain
forward-looking statements. A description of factors that could
cause actual results to differ materially from the expectations
expressed in these and other forward-looking statements will be
found in the company's Registration Statement to be filed with the
SEC.
Media Contact:
Lilly Ghahremani
1-866-963-2417 ext 802
mediacontact@healthcareoftoday.com
www.healthcareoftoday.com
Online newsroom: www.healthcareoftoday.com/MediaRoom