JERUSALEM, March 21, 2011 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has received an unsolicited buy-out of all the outstanding shares of the Company at $0.33 per share subject to final due diligence of the Companys technology and other regulatory issues by a European based Investment House.
Medisafe 1's management team and the Buying entity are currently conducting due diligence and should be able to provide to its shareholders further details in the coming weeks.
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
This letter contains 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. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.
Media Contact: Jacob Elhadad CEO +972-524440000 Jacob.email@example.com
SOURCE Medisafe 1 Technologies Corp.