Published: February 20, 2006
Healtheuniverse to Acquire Profitable, Debt Free California Institute of Cosmetic and Reconstructive Surgery
Acquisition to be Accretive to Earnings and Includes CICRS Clinical Database to Advance Evidenced Based Human Clinical Trials for Adult Stem Cell Research
Healtheuniverse Inc. (OTC: HLUN), a diversified
biotechnology development firm specializing in the development and
commercialization of patented biopharmaceutical and biomedical products
announced today that it has entered into a Letter Of Intent (LOI) to
acquire the assets, operations and clinical database of The California
Institute of Cosmetic & Reconstructive Surgery. The acquisition is
expected to be accretive to earnings and includes the CICRS clinical
database which will prove valuable as the company advances its evidenced
based human clinical trials for stem cell applications in the plastic,
reconstructive, and cosmetic surgery market. This acquisition is expected
to close in the first quarter 2006 subject to customary closing conditions
and is another key step to the Company becoming the first to commercialize
the use of regenerative medicine and adult stem cells.
Services at the California Institute of Cosmetic & Reconstructive Surgery
range from the latest techniques in Cosmetic Surgery to extensive new
developments in the field of Reconstructive Surgery. The Institute
performs Cosmetic Surgery such as breast augmentation, facelifts,
liposuction, and rhinoplasty, as well as extensive Reconstructive Surgery
for Breast Cancer, burn victims, trauma victims, chronic wounds,
skin cancer, and hand surgery.
Dr. Vipul Dev MD, Chief Executive Officer of Healtheuniverse, Inc. stated,
"I am very pleased to expand our organization with the acquisition of
CICRS. This acquisition will certainly add revenue and earnings in an area
of the market we specialize in and will enable a much faster deployment of
our human clinical trials and activities across the U.S. and globally. The
plastic and cosmetic surgery industry is at an exciting stage of growth
worldwide with interest in advanced non-embryonic stem cell products and
services reaching a high point this year. We are clearly at the forefront
of this technology."
About HEALTHeUNIVERSE Inc.
HEALTHeUNIVERSE Inc. is a biotechnology development firm specializing in
the development and commercialization of patented Biopharmaceutical and
Biomedical products. We are engaged in research and development of
regenerative medicine therapies using non-embryonic adult stem cells for
use in plastic, reconstructive, orthopedic, vascular, and cardiac surgery.
Healtheuniverse strives to be the first to commercialize the use of
regenerative medicine in plastic and reconstructive surgery and to develop
therapeutic uses in the most profitable commercial applications. More
information on Healtheuniverse is available online at
http://healtheuniverse.com/
Safe Harbor Statement
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief or current expectations of
Healtheuniverse Inc., and members of their management as well as the
assumptions on which such statements are based. Prospective investors are
cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to management
that could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the ability to
compete successfully and the ability to complete before-mentioned
transactions. The company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the statements
to reflect changed assumptions, the occurrence of unanticipated events or
changes to future operating results.
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