Sanomedics International Holdings, Inc. (OTCQB: SIMH) (“Sanomedics”), a medical technology holding company that focuses on game-changing products, services and ideas, today announced that it has completed the previously announced acquisition of Prime Time Medical, Inc., of Largo, Florida (“Prime Time”) for a total purchase price of $3,100,000, effective August 30, 2013. The closing price was amended to include the issuance of 531,250 common shares of Sanomedics, $1 million in debt, and $1,250,000 cash consideration with $400,000 paid through closing and the balance of $850,000 in a promissory note payable within 30 days.
Keith Houlihan, Co-founder and President of Sanomedics, stated, “We are very excited about this acquisition, as the completion of this acquisition marks a significant milestone in Sanomedics’ high growth strategy of acquiring and integrating positioned medical equipment providers with Anovent in today’s ever demanding Sleep Apnea vertical.”
Sanomedics International Holdings, Inc.