SOURCE: Oncology Med

January 30, 2008 07:00 ET

Oncology Med Enters Into Letter of Intent 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 - January 30, 2008) - Oncology Med, Inc. (PINKSHEETS: ONCO) a Pittsburgh based cancer treatment solutions group, announced today that it has entered into a letter of intent to acquire 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. Upon the closing of this acquisition, which is subject to due diligence review by both parties and the execution of definitive agreements of purchase, the combined entity will have an annual revenue run rate of $5,000,000.00. The Company is prevented from announcing the name of the acquisition candidate until the completion of the due diligence period and execution of a definitive agreement of purchase.

According to William Walker, Ph.D., Oncology Med's CEO and founder, "We are extremely excited about the agreement we have entered into to acquire this company and intend to move diligently and expediently toward a closing which we expect to occur on or about May 2008. The company is a leader in their field and presents many cross marketing opportunities for us. The management has a pristine reputation and credentials and will be a great addition to the Oncology Med team. I believe this will be one of many acquisitions that we will pursue. As always 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.

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