SOURCE: Oncology Med, Inc.

April 29, 2008 09:36 ET

Oncology Med Acquisition on Track -- Set to Acquire Medical/Radiation Company Which Has Gross Revenues of $2,800,000.00

Upon the Closing, Oncology Med Will Have an Annual Revenue Run Rate of $5,000,000.00

PITTSBURGH, PA--(Marketwire - April 29, 2008) - Oncology Med, Inc. (PINKSHEETS: ONCO), a Pittsburgh based cancer treatment solutions group, announced today that the acquisition candidate announced at the end of January, 2008 has passed its due diligence inquiry and has entered the contract stage with a synergistic company in the field of physics and radiation that has annual revenues of $2,800,000.00, operates on a national scale, and is profitable.

According to William Walker, Ph.D., Oncology Med's CEO and founder, "We are extremely excited exiting the due diligence period and expect to have definitive agreements in place for this acquisition within the next 30 - 45 days. Although we originally stated that the acquisition would close in May, 2008 we now expect the closing to occur in the 3rd quarter of 2008. The company is a leader in their field and presents many cross marketing opportunities for us. We believe this will be one of many acquisitions that we will pursue. As previously mentioned, our plan is to take advantage of our organic growth in addition to exciting and accretive acquisitions."

About Oncology Med, Inc.

Oncology Med is a public company engaged in the fulfillment of services related to the treatment of various cancers. It currently provides analysis and design of radiation treatment plans in order for radiation oncologists to administer radiation treatments to cancer patients. Current services facilitate radiation treatment programs ranging from external beam radiation to more advanced radiation treatment technologies.

More information about Oncology Med, Inc. can be found at www.oncologymed.com.

NOTE: This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results.

Contact Information

  • For information, please contact:
    William Walker, Ph.D.
    Oncology Med, Inc.
    Email Contact