Oncologix Plans Expansion; Talks Underway With Health Care Service Providers
GRAND RAPIDS -- Oncologix Tech Inc. (OTC: OCLG), a diversified medical device and health care services company operating businesses in medical device cancer detection, prevention and healthcare services, said Thursday it 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 Thursday. "This is a critical first step in expanding Oncologix's two-fold strategic mission. With the acquisition 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."
Erwin also noted that negotiations to reduce OCLG's debt are now under way and that the company seeks 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," Erwin said.
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.
More at www.oncologix.biz.
