SOURCE: MediSys Corporation

August 27, 2007 15:59 ET

MediSys Corporation Announces Reverse Stock Split and Symbol Change

PALM BEACH GARDENS, FL--(Marketwire - August 27, 2007) - MediSys Corporation (PINKSHEETS: MDYS) today announced that its Board of Directors approved a 1-for-5000 reverse split of its common stock in response to a resolution put forth by a majority vote of the Company's stockholders on August 15, 2007. The reverse stock split will be effective at the market open on Tuesday, August 28, 2007 at which time the shares will begin trading on the Pink Sheets on a split adjusted basis under the new symbol MDYO.

The MediSys reverse stock split initially will result in a higher share price. This is expected to enhance the Company's ability to raise capital, broaden its appeal to investors, reduce per share transaction fees and reduce certain administrative costs.

The reverse split will reduce the number of issued and outstanding shares of the Company's common stock from approximately 347 million to approximately 69,450. Furthermore, proportional adjustments will be made to the Company's stock options and other equity incentive awards, equity compensation plans and convertible notes. The number of authorized shares of common stock will remain unchanged at 500 million.

Information for Stockholders

As a result of the reverse stock split, stockholders will receive one new share of common stock for every five thousand shares held. Registered holders will receive a letter of transmittal shortly after the effective date with instructions for the exchange of stock certificates. Stockholders with shares in brokerage accounts will be contacted by their brokers with instructions.

Holliday Stock Transfer will act as the exchange agent and can be contacted at 480-481-3940.

Fractional or partial shares will not be issued and instead will be rounded up to the nearest whole number of shares. Stockholders with shares held in brokerage accounts are encouraged to contact their brokers with any questions.

About MediSys

MediSys Corporation provides medical diagnostic solutions to physicians in the internal medicine, family medicine and general practice markets. The Company's innovative clinical programs are easily integrated into the physicians practice, are cost-effective and enhance patient care. These programs or "systems" enable doctors to provide superior medical diagnostics & treatment while significantly improving their revenues and profits.

Disclaimer Regarding Forward-Looking Statements:

This announcement may contain certain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated. Forward-looking statements speak only as of the date the statement was made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. If the Company does update any forward-looking statement, no inference should be drawn that the Company will make additional updates with respect to that statement or any other forward-looking statements.

Contact Information

  • Contact:
    Brian Gibson
    800 Village Square Crossing
    Suite 201
    Palm Beach Gardens, FL 33410
    Tel: 561-622-5889
    Fax: 561-656-2099
    e-mail: Email Contact