ZoomMed inc.

ZoomMed inc.

July 27, 2005 23:59 ET

ZoomMed announces the closing of its qualifying transaction

MONTREAL, July 27 - ZoomMed inc. ("ZoomMed"), a capital pool
corporation (TSX Venture Exchange: ZMD.P), is proud to announce that, on
July 27, 2005, it completed the closing of its qualifying transaction.

The qualifying transaction consisted in the acquisition of all the issued
and outstanding common shares of 9103-8240 Québec inc., which in turn holds
all the issued and outstanding shares of 4130936 Canada Inc. (collectively,
the "Businesses"). This share purchase was made in consideration of a price of
$4,500,000, payable by the issuance of 18,000,000 common shares of ZoomMed, at
a price of $0.25 per share.

ZoomMed expects to receive the final approval from the TSX Venture
Exchange regarding its qualifying transaction over the course of the next few
days, which will allow it to cease being a capital pool corporation and to
become a tier 2 company on the TSX Venture Exchange. Upon final approval by
the TSX Venture Exchange of this transaction, a final exchange bulletin will
be issued and publicly distributed by the TSX Venture Exchange. Two days
following such publication, trading of common shares of ZoomMed on the TSX
Venture Exchange will begin.

ZoomMed is a company specializing in the reinstatement, management and
restoration of pre-used and/or, if needed, new medical and laboratory
equipment, and which also offers complementary replacement parts. As such,
ZoomMed purchases used equipment, sees to its restoration, and finally,
resells such equipment in the market.

In addition to equipment restoration, ZoomMed has also developed an
expertise in the management of inventory, in consulting services, in the
purchase and sale of equipment from public and private health institutions
(hospitals, laboratories and CLSCs), and in the delivery, collection,
restoration, maintenance and consignment of equipment.

ZoomMed also offers a multilingual Web portal specialized in the purchase
and sale of medical equipment, eBay® style, giving potential purchasers the
possibility of finding equipment, parts and services that respond to their

In addition, ZoomMed offers a Web solution specialized in the management
of the life cycle of medical equipment. This solution offers specialists the
possibility of efficiently managing inventories, preventive and curative
maintenance, formal follow-ups, document management and service contracts.

Lastly, ZoomMed has created a new product, the ZRx Prescriber, an
electronic prescriber, which is intended to change the way drugs are
prescribed and dispensed in Canada. This project consists in offering doctors
a computer tool, which uses cutting-edge technologies, allowing them to
execute various tasks related to prescription drug management. It consists in
developing a simple and free Web product, using "Phone Pocket Pc (PPPc)" or
"Pocket PC" technology, and in collaboration with doctors, partners that
provide therapeutic advisor software and drug interaction software and other
suppliers working in the pharmaceutical field.

The TSX Venture Exchange has neither approved nor accepts any
responsibility with respect to the veracity or exactitude of this press

Contact Information

  • ZoomMed inc.
    Valier Boivin
    (514) 844-5468