SOURCE: AcuMedSpa Holdings Inc.

March 08, 2010 07:00 ET

AcuMedSpa Releases Update on Corporate Progress and Status of Its Pending and Potential Acquisitions

AVENTURA, FL--(Marketwire - March 8, 2010) -  AcuMedSpa Holdings, Inc. (PINKSHEETS: AMSZ) would like to take this opportunity to provide an update on the company and the status of its pending and potential future acquisitions.

AcuMedSpa finalized its Disclosure Statement for upgrade to the Pink Sheets "Current Information" level in the OTC Market Tier system as a first step in the process to up list to the OTCBB. The company's counsel will be issuing an opinion letter in the next few days and will file the Disclosure Statement with Pink Sheets.

AcuMedSpa Holdings Inc. is also in the process of finalizing its 2009 year-end financial statement and expects to file them within the next 10 days. Additionally, current year 2010 is moving along as expected. The company fully anticipates reaching its revenue and EBITDA targets for the fiscal year.

"These are very exciting and extremely positive developments for our company and our shareholders," stated AcuMedSpa president, Brian Sperber. "Moving up on the OTC Market tiers and finalizing our year-end financials are very significant milestones for us. This not only demonstrates our growth and corporate progress, but it also provides our current and prospective shareholders with the kind of transparency and disclosure they need in order to make informed investment decisions." 

Acquisitions

The company is in the due diligence phase for the acquisition of a well-established current South Florida business. AcuMedSpa is currently renegotiating the terms of this agreement and expects to complete the process by March 11, 2010 with closing projected for the end of the month.

The larger acquisition is also in the due diligence phase and is progressing very well. The company expects to finalize this transaction in a timely manner.

In addition to these acquisitions, several larger players in the spa industry continue to approach the company. One such company is a very large international Spa chain that wishes to discuss potential synergies and strategic opportunities with AcuMedSpa. Another is a larger entity that contacted the company about the possibility of European expansion.

Regarding the acquisition updates Mr. Sperber commented, "We are thrilled with the progress of the deals that are currently on the table and we expect to complete them soon and emerge as a stronger and more diverse company. Over the last few months, we have worked diligently to develop new bonds and solidify existing relationships within our industry. Our progress in this area has become evident by the attention we are receiving from some of our larger industry counterparts. Forging these strategic partnerships will allow us to continue along the path to becoming a major player in the Medical Spa business in the United States and beyond."

For further info please visit our website 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:
    Brian Sperber
    1-877-8ACUMED