Contact Information: Contact: digiMedical Solutions, Inc. Investor Relations ir@digimedical.com 214-722-3029
digiMedical Solutions, Inc. Enters Into Letter of Intent With Hospital Business Concepts to Sell Harrington's Acquisition's Pharmacy Chain
Company to Release Shareholder Letter on the Future Company Direction Utilizing Their Proprietary Digital Medical Technologies
| Source: digiMedical Solutions, Inc.
DALLAS, TX--(Marketwire - June 11, 2008) - digiMedical Solutions, Inc. (PINKSHEETS : DGMS )
today announced the Company has entered into a non-binding letter of intent
(LOI) to sell Harrington's Acquisition Inc.'s pharmacy chain to Hospital
Business Concepts. Harrington's Acquisition Inc. is wholly owned by
digiMedical. In preparation for this sale, digiMedical has taken recent
steps to ready the affected markets. To reduce operational overhead in the
Company's pharmacies without losing market share, digiMedical combined
pharmacies. In Dallas, Texas, the Company combined their downtown Dallas
pharmacy into the Dallas Forest Park pharmacy. Similarly, digiMedical
combined their North Naples, Florida, pharmacy into the downtown Naples
pharmacy. With these consolidations, overhead was reduced without impacting
market reach. The remaining three Harrington's pharmacy locations in
Naples and Ft. Myers, Florida, and Dallas, Texas, will be sold to Hospital
Business Concepts pending further due diligence as outlined in the LOI.
digiMedical's Future Focus and their Microsoft-based Digital Medical
Technology
digiMedical is only selling the pharmacies and is not selling the Company's
proprietary digital medical technologies. digiMedical will release a
letter to shareholders shortly detailing the sale of the pharmacies and
updating shareholders on the future direction and singular focus of the
digital medical technology of the company.
digiMedical Prescription Handling Software
digiMedical Solutions, a Microsoft Partner, with operations in Texas and
Florida, has built its own suite of proprietary software to handle
prescriptions digitally from the physician's office to the pharmacy,
securely and in compliance with all DEA and HIPAA requirements. The suite
of software includes digiRX, digiRxStream, digiReauth, digiRxComp, and
digiAccounting.
Company Updates and Information
To be added to digiMedical's corporate e-mail list for shareholders and
interested investors or to receive information on the company, please send
an e-mail to ir@digimedical.com.
About digiMedical Solutions, Inc.™
digiMedical Solutions, Inc.™ (www.digimedical.com) is a pharmacy and
medical technology company focused on developing next generation digital
medical technology with an emphasis on digital prescriptions
(d-Prescriptions) that will more closely align the doctor, pharmacist and
patient. The company's planned growth will come from three channels: direct
marketing of the company's wireless base d-prescription technology to
doctors, acquisition of independent pharmacy chains and the sale of certain
territories to "market partners" licensed to exploit the digiMedical
Solutions™ model. digiMedical Solutions, Inc.™ currently owns and
operates five (5) pharmacies located in Texas and Florida. digiMedical
Solutions'™ unique business model brings doctor, patients and pharmacies
into next generation medical technologies.
Forward-Looking Statement
Statements included in this press release which are not historical in
nature, are intended to be, and are hereby identified as "Forward-Looking
Statements" for purposes of safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-Looking Statements may
be identified by words including "anticipate," "await," "envision,"
"foresee," "aim at," "believe," "intends," "estimates" including without
limitation, those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the Forward-Looking
Statements. Readers are directed to the company's filings with the U.S.
Securities and Exchange Commission for additional information and a
presentation of the risks and uncertainties that may affect the company's
business and results of operations.