D. Medical Negotiating a Potential Acquisition Transaction
D. Medical Industries Ltd. (Nasdaq: DMED) announced today that it is negotiating a potential acquisition transaction with an unaffiliated third party in the business of medical devices for diabetes (the "Target"), pursuant to which the Company (or any of its wholly owned subsidiaries) will purchase 100% of the issued and outstanding share capital of the Target from its current shareholders, in exchange for a combination of cash and shares of the Company and/or its subsidiary.
The Company noted that there can be no assurance that the negotiations will result in a transaction that the Company's board of directors determines is in the best interests of the Company or its shareholders. Further, there is no assurance concerning the form, structure, timing or terms and conditions of any such transaction. The Company may not disclose developments with respect to its negotiations with the Target and its shareholders, unless and until the Company's board of directors has approved a specific transaction.
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