Access Plans USA, Alliance HealthCard Announce Merger
11/17/2008
IRVING, Texas — Access Plans USA, Inc., a developer and nationwide distributor of consumer-driven healthcare programs, has entered into a definitive merger agreement with Alliance HealthCard, Inc., a national marketing company specializing in the distribution of a broad range of discount savings plans, including discount medical plans.
The deal is expected close during the first quarter of 2009. Alliance will issue up to 7.25 million of its common stock shares to Access Plans shareholders who will then own approximately one-third of the outstanding Alliance common stock shares.
Alliance CEO, Danny Wright, who will become the CEO of the merged company, stated, “Alliance has, through organic growth and accretive acquisitions, taken giant steps forward the past two years to position itself for generating growth and value to the investment community. We view this merger as an outstanding vehicle to make this profile better known to the investment community and noted that operating results for the most recent 12 months demonstrate effectively the fundamentals which normally drive share price.”
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