Qualified Purchaser Sought
SAN DIEGO, Dec. 22, 2015 /PRNewswire/ — AVACEN Medical today announced it has formally retained Objective Capital Partners, LLC to locate a qualified purchaser to acquire the Company.
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AVACEN Medical is a company involved in research and development related to medical devices designed to use its patented AVACEN Treatment Method. Its FDA-cleared AVACEN 100* product is a unique over-the-counter Class II medical device that addresses the medical needs of over one billion people worldwide. Developed over a 6 year period, the AVACEN 100 with over 3,000 firmware instructions is the world's first noninvasive family medical device that is designed to allow users to easily treat their entire body. The AVACEN 100 has a record of approximately 500,000 treatments without a single reported negative side effect.
According to Thomas G. Muehlbauer, CEO of AVACEN Medical, "Our patented AVACEN Treatment Method is an entirely new concept in microcirculation therapy. This is accomplished by safely and noninvasively increasing core body temperature by infusing heat into the palm of the hand. Almost everything that can go wrong with the body, including aging, can be traced to compromised microcirculation. Our device and patents address the alleviation of symptoms associated with an autoimmune, circulatory, neurological, lymphatic, thermoregulatory disorder, or endocrinal dysfunction, or any combination thereof."
He continued, "Of the alternatives we explored, the Company has determined it is in the best interest of its shareholders to offer itself as an acquisition target to a buyer that possesses the necessary resources to advance our fields of use and support the worldwide demand for the Company's products. We believe this is the most advantageous and quickest path to secure our $10 Billion annual sales potential while the 17 year average remaining term of our U.S. and International patents is most favorable."
AVACEN Medical recently announced that ClinicalTrials.gov, a service of the U.S. National Institutes of Health, has published the results of the Company's AVACEN Treatment Method clinical trials. The study was conducted by The University of California, San Diego and the Department of Veterans Affairs. The study results, published in the Society for Neuroscience (SfN) annual meeting and poster program indicate a major benefit for fibromyalgia sufferers using the AVACEN Treatment Method. The data show a statistically significant reduction in widespread pain of over 40%, and a decrease in tender point count to a level below the value typically used for the clinical assessment of fibromyalgia.
Forward-looking statements: During this process, management plans to continue to execute the Company's ongoing initiatives to bolster the position of its brand and business, but there can be no assurance of any transaction being entered into or consummated. The Company has not set a timetable for completion of this process. The Company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information or future events or developments.
About AVACEN Medical: Over the last two years, AVACEN Medical (www.AVACEN.com) has been awarded 3 U.S. and 5 International patents for its unique apparatus and methods that support its innovative medical process called the AVACEN Treatment Method. The company is dedicated to the innovation and design of safe, easy to use, noninvasive drug-free alternatives to treat chronic pain. Founded in 2009, AVACEN is headquartered in San Diego. Contact: Thomas Muehlbauer at (888) 4-AVACEN x 701 or email.
About Objective Capital Partners: Objective Capital Partners (www.objectivecp.com) is a leading M&A investment banking firm with over 500 successful transactions serving the transaction needs of growth stage and mid-size companies. The executive team has a unique combination of investment banking, private equity, and business ownership experience that enables Objective Capital Partners to provide large enterprise caliber investment banking services to companies with annual revenues up to $500 million.
*The AVACEN 100 is pending FDA approval for widespread pain related to fibromyalgia. It is FDA-Cleared as a Class II heat therapy system indicated for the temporary relief of minor muscle and joint pain and stiffness; the temporary relief of joint pain associated with arthritis, muscle spasms, minor strains and sprains; muscular relaxation. It is not available for sale for any non-cleared indication mentioned in this document.