SOURCE: AcuMedSpa Holdings, Inc.

May 17, 2010 09:25 ET

AcuMedSpa Holdings, Inc. Announces Corporate Updates

TAMARAC, FL--(Marketwire - May 17, 2010) -  AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ), a provider of Medical Aesthetic, Spa and Acupuncture services, announces corporate updates and reiterates goals for 2010. 

AcuMedSpa Holdings, Inc. is in negotiations to sell its "Spa within a Practice" subsidiary. This transaction which is expected to be finalized within the next 10 days is projected to be in the neighborhood of $700,000.00 to $1,000,000.00 in value for AcuMedSpa Holdings, Inc. The purchaser will be acquiring most of AcuMedSpa's liabilities and as a result will reduce AcuMedSpa's outstanding debt by approximately $475,000. The cash portion will help AcuMedSpa Holdings expand into multiple Standalone locations more rapidly.

The "Spa within a Practice" concept has always been well received but our gross margins in this concept have never really allowed us to maximize the revenue stream as much of the revenue is passed on to the service providers, Medical Practice and other related costs. Our standalone locations and the introduction of many more highly profitable services has become our new focus. We are currently working on introducing these new services to our standalone locations both in S. Florida and in Tennessee.

The company expected to issue earning this past week but due to acquisition activity and delays with our CPAs we expect that first quarter earnings will be released approximately May 20, 2010. We will also not be attending the Global Summit in order to focus on our current developments.

As mentioned previously, AcuMedSpa believes the future of the company is bright and is focused on the development of the Standalone Medical Spa model. Mr. Sperber, director of AcuMedSpa, has been working with professionals in multiple health care fields to introduce new services with far greater margins than our current service offerings into the standalone locations.

As of May 12, Gregory Antoine became the President of the Corporation; Mr. Brian Sperber remains as a director. Mr. Antoine will be completely focused on the day-to-day management of the business going forward while Mr. Sperber will focus his energy on business development and acquisitions. 

"It is a great privilege for me to introduce myself to all of you as the President of AcuMedSpa at this time. It is our focus to grow the business through strong business development and the addition of exciting and profitable medical and esthetic services. The company remains focused on developing prominent standalone locations both in the United States as well as with our partners in Europe. I stand behind our previously stated revenue and earnings projections for 2010 of $10,000,000.00 and EBITDA of $2,000,000.00."

Please follow our progress on twitter: http://twitter.com/acumedinc

For additional info please visit our website: http://www.acumedspa.com/

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:

    Gregory Antoine
    1-877-8-ACUMED