CooperVision, Inc. Seeks Intermediary as EP Global
Post# of 29
Posted On: 03/30/2015 1:49:47 PM
CooperVision, Inc. Seeks Intermediary as EP Global Communications, Inc., Opens Negotiations at $1.1B
Ophthalmic Technologies Discoveries Could Revolutionize the Future of Eye Care
PR Newswire
IRVINE, Calif., March 30, 2015
IRVINE, Calif., March 30, 2015 /PRNewswire/ -- EP Global Communications, Inc. (OTC-PINK: EPGL) In a new material development to shareholders, EPGL has opened negotiations with CooperVision, Inc. at $1.1 billion for the exclusive Option to License their new ophthalmic technologies. As previously disclosed publicly, CooperVision, Inc. and EP Global Communications, Inc. have co-developed new contact lens technologies, which has led to several new patent filings. It is estimated by some industry experts that just one of these newly developed technologies could add $5 billion annually to contact lens sales worldwide.
CooperVision, Inc., who is represented by Tom Counts of Paul Hastings, LLP in San Francisco, has requested that EPGL immediately grant the exclusive Option to License the technologies several months earlier than EPGL had expected. Because of this new development and the value of EPGL's work, EPGL has opened negotiations at approximately $1.1 billion for the exclusive Option to License on all of the technologies at stake.
"We believe Mr. Counts is a reputable person we can work with via a proposed intermediary. CooperVision, Inc. has the potential opportunity with these new technologies, to dominate a growing new space in contact lens technology, a new market segment which companies such as Google, Novartis and J&J are publicly vying for. We know that those companies would be keenly interested in having this technology if they could," said Michael Hayes, President of EPGL. "The future of vision care is augmentation and electronic contact lenses, in the opinion of many experts. A revolution not unlike that of the smart phone is coming. A lot is at stake here." EPGL management believes an amicable deal can be reached between the companies in the near future.
In other developments, EPGL and AT&T continue work on several newly identified Intellectual Properties. The two companies signed a Development Agreement in December, 2014 and are now exploring projects that may result from the jointly conceived technologies. "These technologies are very timely in the wearable area and we believe there is a very large untapped market for them. We are very excited to be working with AT&T on cutting edge technologies," said Hayes.
EPGL will keep the investment community informed as these and other developments progress going forward.
About EP Global Communications, Inc.
Ophthalmic Technologies Discoveries Could Revolutionize the Future of Eye Care
PR Newswire
IRVINE, Calif., March 30, 2015
IRVINE, Calif., March 30, 2015 /PRNewswire/ -- EP Global Communications, Inc. (OTC-PINK: EPGL) In a new material development to shareholders, EPGL has opened negotiations with CooperVision, Inc. at $1.1 billion for the exclusive Option to License their new ophthalmic technologies. As previously disclosed publicly, CooperVision, Inc. and EP Global Communications, Inc. have co-developed new contact lens technologies, which has led to several new patent filings. It is estimated by some industry experts that just one of these newly developed technologies could add $5 billion annually to contact lens sales worldwide.
CooperVision, Inc., who is represented by Tom Counts of Paul Hastings, LLP in San Francisco, has requested that EPGL immediately grant the exclusive Option to License the technologies several months earlier than EPGL had expected. Because of this new development and the value of EPGL's work, EPGL has opened negotiations at approximately $1.1 billion for the exclusive Option to License on all of the technologies at stake.
"We believe Mr. Counts is a reputable person we can work with via a proposed intermediary. CooperVision, Inc. has the potential opportunity with these new technologies, to dominate a growing new space in contact lens technology, a new market segment which companies such as Google, Novartis and J&J are publicly vying for. We know that those companies would be keenly interested in having this technology if they could," said Michael Hayes, President of EPGL. "The future of vision care is augmentation and electronic contact lenses, in the opinion of many experts. A revolution not unlike that of the smart phone is coming. A lot is at stake here." EPGL management believes an amicable deal can be reached between the companies in the near future.
In other developments, EPGL and AT&T continue work on several newly identified Intellectual Properties. The two companies signed a Development Agreement in December, 2014 and are now exploring projects that may result from the jointly conceived technologies. "These technologies are very timely in the wearable area and we believe there is a very large untapped market for them. We are very excited to be working with AT&T on cutting edge technologies," said Hayes.
EPGL will keep the investment community informed as these and other developments progress going forward.
About EP Global Communications, Inc.
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