SOURCE: AcuMedSpa Holdings Inc

July 13, 2010 06:00 ET

AcuMedSpa Holdings, Inc. Announces It's Entered Into Two Separate Acquisition Talks

TAMARAC, FL--(Marketwire - July 13, 2010) -  AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ), a provider of Medical Aesthetic, Spa and Acupuncture services, announced it has entered into talks to make two separate acquisitions. One of the companies is domestic and the other international.

The domestic acquisition has a substantial nationwide footprint which when completed will open up several new markets for AcuMedSpa. The international acquisition is progressing well but is slightly behind the domestic one in terms of expected timeframe for finalization. When completed, it will provide AcuMedSpa with a global presence in the spa industry.

The company is also making headway with its project to open AcuMedSpa in Poland. Completion will take a little longer due to some of the legal aspects and complexities involved in dealing with the E.U.

The previous sale of the company's "Spa within a Practice" subsidiary in the month of May, has cleared nearly half a million dollars in debt off the books and will allow AcuMedSpa to realize positive earnings in 2010. When originally stating its revenue and earnings expectations for the current year, the company took into consideration its pending acquisitions, incorporated with its current business activities. Upon completion of these two key acquisitions the company expects to meet and exceed its previously stated 2010 projections.

"Over the past few months we have been working very hard to successfully improve current operations while reducing our liabilities," stated AcuMedSpa Holdings President Gregory Antoine. "Our objective all along has been to expand our business two ways. First through the successful acquisition of spa and aesthetic practices, and second by opening new facilities in key markets." Mr. Antoine further commented, "Our progress so far this year together with these acquisitions nearing completion puts us on pace to exceed our $2,000,000 net income goal for 2010."

The company also announced that its wholesale health and beauty division, Consumer Care of America LLC, is on pace to exceed expectations. The focus of this division is high volume sales. More detailed information on Consumer Care of America will be provided in a future update.

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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:

    Gregory Antoine