Healthcare Technologies Stops Selector Transaction

Apr 04, 2001, 01:00 ET from Healthcare Technologies, Ltd.

    ASHDOD, Israel, April 4 /PRNewswire/ --
 Healthcare Technologies, Ltd. (Nasdaq:   HCTL) today announced that since
 various material conditions for closing the Selector reverse-merger agreement
 have not been met within the prescribed timeframe, and are unlikely to be met
 in the near future, Healthcare's Board of Directors decided not to proceed
 with the transaction and exercised its termination right.
 
     About Healthcare Technologies
     Healthcare Technologies through it subsidiaries Savyon Diagnostics Ltd.,
 Gamidor Israel Ltd, Danyel Biotech Ltd, specializes in development,
 manufacture and marketing of clinical diagnostic test kits and provide
 services and tools to diagnostic and biotech research professionals in
 laboratory and point of care sites worldwide.  Its GamidaGen subsidiary of
 Savyon is engaged in the research, development and marketing of molecular
 biology based gene screening tools for the detection of certain
 gene-associated disorders in humans.  Its Glycodata Ltd. subsidiary
 specializes in glycobiology-based drug discovery and development and
 bioinformatics.
 
     Except for historical information, the matters discussed in this news
 release may be considered "forward-looking" statements within the meaning of
 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
 Securities Exchange Act of 1934, as amended.  Such statements include
 declarations regarding the current intent, belief or expectations of the
 Company and its management.  Prospective investors are cautioned that any such
 forward-looking statements, including those regarding the ability to obtain
 new contracts, and future profitability involve a number of risks and
 uncertainties that could materially affect actual results. Such risks and
 uncertainties are identified in the Company's reports and registration
 statements filed with the Securities and Exchange Commission, including its
 Annual Report on Form 10-K for the year ended December 31, 1999 and Forms
 10-Q.
 
     This press release is available at http://www.orbitfr.com and
 http://www.portfoliopr.com.
 
 

SOURCE Healthcare Technologies, Ltd.
    ASHDOD, Israel, April 4 /PRNewswire/ --
 Healthcare Technologies, Ltd. (Nasdaq:   HCTL) today announced that since
 various material conditions for closing the Selector reverse-merger agreement
 have not been met within the prescribed timeframe, and are unlikely to be met
 in the near future, Healthcare's Board of Directors decided not to proceed
 with the transaction and exercised its termination right.
 
     About Healthcare Technologies
     Healthcare Technologies through it subsidiaries Savyon Diagnostics Ltd.,
 Gamidor Israel Ltd, Danyel Biotech Ltd, specializes in development,
 manufacture and marketing of clinical diagnostic test kits and provide
 services and tools to diagnostic and biotech research professionals in
 laboratory and point of care sites worldwide.  Its GamidaGen subsidiary of
 Savyon is engaged in the research, development and marketing of molecular
 biology based gene screening tools for the detection of certain
 gene-associated disorders in humans.  Its Glycodata Ltd. subsidiary
 specializes in glycobiology-based drug discovery and development and
 bioinformatics.
 
     Except for historical information, the matters discussed in this news
 release may be considered "forward-looking" statements within the meaning of
 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
 Securities Exchange Act of 1934, as amended.  Such statements include
 declarations regarding the current intent, belief or expectations of the
 Company and its management.  Prospective investors are cautioned that any such
 forward-looking statements, including those regarding the ability to obtain
 new contracts, and future profitability involve a number of risks and
 uncertainties that could materially affect actual results. Such risks and
 uncertainties are identified in the Company's reports and registration
 statements filed with the Securities and Exchange Commission, including its
 Annual Report on Form 10-K for the year ended December 31, 1999 and Forms
 10-Q.
 
     This press release is available at http://www.orbitfr.com and
 http://www.portfoliopr.com.
 
 SOURCE  Healthcare Technologies, Ltd.