Flex Fuels Energy, Inc. disclosed details today regarding the Company’s entry, on the 25th of last month, into a Subscription and Shareholder’s Agreement with Bio AMD Holdings Limited.
Bio-AMD specializes in medical technologies in the booming Point-of-Care (POC) market, where FXFL looks to realize substantial returns developing several proprietary hand-held devices (used for reading third-party assays) via extensive licensing to a global manufacturing and distribution market eager for such technology.
Under the terms of the Agreement, FXFL will acquire 63% of the fully diluted equity in Bio-AMD for £865,000 GBP ($1.286M) which will be used to push the Bio-AMD business forward to become FXFL’s main focus, in accordance with the diversification plan released earlier this year (Feb. 10).
Initial products to be developed for the growing $12B global POC market will include: a qualitatively superior Digital Strip Reader (DSR) applied to a Digital Home Pregnancy Test (HPT) that will be cheap to manufacture; a DSR for high-speed POC cardiac treatment monitoring; an intuitive and user-friendly prothrombin monitor for anticoagulant drug patients; and a high-fidelity Magnetic Particle Reader with a diverse capacity and low cost.
The medical device and biotech markets show strength despite a global recession, gobbling up 34% of 09 investment capital, and the sector as a whole shows robust activity, indicating that a 3Q 09 increase of 154% in mergers and acquisitions confirms the inviting 2Q-3Q 09 P/E ratios shown among medical equipment firms.
CEO of FXFL Tom Barr expressed his delight over the 63% acquisition of the Daresbury Science and Innovation Campus-based Bio-AMD, praising the outfit for its “world class” management, and clearly indicating that this acquisition would produce significant growth for the Company’s shareholders.
CFO of FXFL Robert Galvin is overseeing the implementation of the Bio-AMD business plan, and the tight integration between the low-cost POC expertise of Bio-AMD personnel and FXFL is producing spectacular results.
Flex Fuels Energy articulates its strategy, business architecture and market data via the Flex Group website Flexgp.com, which showcases the Company’s primary assets, including: a 51% ownership (with a 73% outstanding shares acquisition option) in the WDX Organisation Ltd., which owns the Wocu™ “World Currency” quotation system based on a sophisticated proprietary algorithm; and the Malibu Gold Property, an operation engaged in mineral exploration near Vancouver, British Columbia which is 100% owned by FXFL.