$EXHI news out this morning!
Exlites Issues a Letter of Intent to Purchase a Medical Device Company
2013-11-18 07:01 ET - News Release
Salt Lake City, UT, (eTeligis.com)
Exlites Holdings International, Inc. (OTCPINK: EXHI) announced that it has issued a Letter of Intent ("LOI") to purchase a medical device company that will provide an existing sales force in proven markets with next generation products. Under the LOI, Exlites will provide use its stock to complete the acquisition and purchase 100% of the target company's issued and outstanding common stock, which will make the target company a wholly-owned subsidiary of Exlites.
Exlites' CEO, Joseph Chung, stated that the acquisition should be completed within the next two weeks. The acquisition will increase the Company's product offerings and provide for new distribution channels and a seasoned sales force, Chung stated.
Exlites was incorporated in the U.S., and until recently, was mainly engaged in business in Japan. Recently, management determined that it was in the Company's best interest to enter the larger U.S. medical equipment market and take advantage of its relationships. Exlites business model is unique in that the Company strives to provide assistance and resources to certain medical equipment manufacturers, many of whom are overseas, are more cost effective and may require FDA approval. By partnering with these medical equipment companies, Exlites can obtain better pricing for the best quality products for its customers. Exlites' business plan includes assisting manufacturers to obtain FDA registration and approval.
About Exlites Holdings International Inc.
Exlites Holdings International Inc. was operated in Japan for a number of years before moving to the United States. The Company's products are sold online and through the company's affiliate and distribution programs. The Company is dedicated to offering medical equipment to hospitals, assisted living facilities and to private individuals who seek quality medical equipment at cost effective prices. The Company's website is at www.exlitesmedical.com.
