SOURCE: AcuMedSpa Holdings Inc.

February 01, 2010 07:00 ET

AcuMedSpa Holdings, Inc. Announces Another Milestone, It Has Reached a Preliminary Agreement to Purchase a Multiple Site Medical Spa Practice Projected to Generate Over $1,500,000.00 in 2010

AVENTURA, FL--(Marketwire - February 1, 2010) - AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ) announces another Milestone. It has reached a preliminary agreement with a multiple storefront medical spa business in the South Eastern United States.

AcuMedSpa expects it will complete the acquisition of the locations before the end of the 1st quarter of 2010. Revenue projections for these locations are conservatively expected to reach $1,500,000.00 and generate EBITDA of $250,000.00 for fiscal year 2010.

On January 6, 2010, AcuMedSpa announced an LOI with a separate target. That LOI was modified and the Due Diligence period was extended as our revision has taken longer than expected. We expect the closing of this target to occur on or before February 12, 2010.

As has been our position until this point, AcuMedSpa's management expects these acquisitions to close without any shareholder dilution.

Brian Sperber, President of AcuMedSpa, stated, "As we continue in the growth and acquisition phase of our business plan, we continue to search out business opportunities that will be immediately accretive for our company as well as expand our current footprint into new markets. Our mission to achieve $10,000,000.00 in revenue in 2010 and an EBITDA of over $2,000,000.00 is one step closer."

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This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors, and other risks. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and AcumedSpa Holdings. Inc takes no obligation to update such statements.

Contact Information

  • Contacts:
    Brian Sperber