HOUSTON , June 25, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) is pleased to announce that it is in negotiations to acquire a 35%-45% equity interest in BioMedicom Inc. (BIOMED). BIOMED will be an exhibitor at the International Congress of Radiology to be held June 27-29, 2004 at the Palais des Congres de Montreal. CSJJ CEO Andrea Cortellazzi will be in negotiations with BIOMED CEO Michael Berman prior to the start of the Congress in Montreal. CSJJ will announce the outcome of this meeting at a future date. The investment in BIOMED will be for a total of $2M with an initial deposit of $300,000 upon contract signing. As part of the investment, CSJJ would receive distribution rights in North America to SONOReal, a revolutionary add-on to any ultrasound system. This product makes 3D ultrasound imaging easy to learn, use and afford. It increases the productive life of an existing ultrasound system, enabling 3D visualization in real-time, while maintaining familiar protocols. SONOReal has received several regulatory clearances, notably from the ISO and the FDA.
About BioMedicom Inc. (BIOMED)
BIOMED was established in 2001 as a fully owned subsidiary of Biomedicom Ltd. It is a Delaware company whose mission is to be the North American Marketing and Sales Company for BioMedicom's products. BIOMED has received funding of more than $2M to date and has no actual or conditional financial obligations. BIOMED possesses several valuable assets including: well recognized product and company trade names, SONOReal and BioMedicom; relationships with leading experts and opinion leaders in the clinical segments of the market; preferred relationships with private physicians who are both customers of SONOReal and serve as referral and training centers in the US and Canada; strategic alliances with notable ultrasound manufacturers; distribution agreements with ISM in Canada and MST in Rhode Island, USA; an experienced business consultant; and a business relationship with Cassling Diagnostic Imaging, a marketer and reseller of imaging equipment (currently Siemens) in the Mid-West with annual revenues of over $100M.
For further information on BioMedicom Inc., please visit the Company website at http://www.biomedicom.com.
For more information on CSJJ, please contact Investor Relations at (973) 351-3868 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.