GRAND RAPIDS, Mich., May 30, 2013 /PRNewswire/ -- Oncologix Tech Inc. (OTCBB: OCLG), a diversified medical device and healthcare services company operating businesses in medical device cancer detection, prevention and healthcare services, has opened negotiations to acquire two healthcare service providers. "We have signed non-binding letters of intent with two leading providers of healthcare services to the elderly and expect to announce the details of that transaction, as well as one other, in the next 45 days," said CEO Wayne Erwin today.
"This is a critical first step in expanding Oncologix's two-fold strategic mission," he said. "With the acquistion of Dotolo, a leading medical device manufacturer, now complete, we will establish our healthcare services divisions, hopefully, with one of these acquisitions. This will enable us to expand our efforts in both divisions as we build out OCLG operations."
Mr. Erwin also noted that negotiations to reduce OCLG's debt are now underway and that the Company seeks s to significantly cut its debt and improve its balance sheet following the completion of negotiations with a few creditors "We are determined to position OCLG for growth and profitability, built on the strength of our existing operations and new acquisitions."
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.
About Oncologix Tech, Inc.:
Oncologix operates medical device and healthcare services companies. For its clients, Oncologix provides FDA approved medical devices and state approved healthcare services. For its shareholders, Oncologix operates profitable operations that build, maintain and nourish shareholder value. The Company's corporate mission is to be the best small cap medical device and healthcare services company in North America.
SOURCE Oncologix Tech Inc.