Commack, NY, April 17, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Patient Access Solutions, Inc. (OTC PINK: PASO), a provider of technology and management solutions for the healthcare and financial industries, is proud to update its shareholders:
Dear Shareholders:
RE: Merger
As we previously shared via our Corporate Twitter account, The Covid-19 Pandemic had a direct impact on the timeline of the negotiations and pending transaction with the Private Equity represented Merger Candidate. Throughout this unfortunate pause we continued to coordinate with our advisors and representation of all parties involved to assure the opportunity would remain active moving forward.
We are pleased to announce the process has been restarted with a target date to have a Letter of Intent (LOI) secured on or before May 29th with closing of the transaction before the end of June. The adjusted timeline is at the request of the Merger Candidate so as to secure two final agreements prior to the transaction. The Covid-19 situation that has impacted the world has ironically created an opportunity to restart the process sooner than was anticipated as Global M&A for the most part had been suspended.
RE: Dividend
With the transaction process being reinitiated we are pleased to announce that the previously announced dividend will be finalized in the coming days. We expect to have a formal announcement regarding calculations and shareholder minimums to participate next week.
RE: Communication
The Board of Directors and Advisors are committed to transparency and appreciate the email requests for more information regarding potential merger candidates, confirmation of timelines, etc. We respectfully request that shareholders be patient during this last stretch as we cannot acknowledge anything more than has been communicated via our official twitter account or Press Release. It’s in the best interest of all shareholders that this final phase of the process remain highly confidential to protect the integrity of the transaction.
We once again want to assure our shareholders that the organization is committed to a transaction that will maximize shareholder value and that is the primary focus of all our activities.
About Patient Access Solutions Inc.(www.pashealth.com)
Patient Access Solutions Inc. (PASHealth) is a Healthcare Solutions company which has created a formidable array of technology, management resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare environment. For more information about the services and products of Patient Access Solutions, please visit our website at www.pashealth.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.
Contact:
info@pashealth.com