2010-02-09 13:52:17 -
Sanomedics International Holdings, Inc. (Pink Sheets:SIMH) has announced that the company and South Ocean Growth Equity have executed an agreement where South Ocean will become a 10% stakeholder in Sanomedics.
Going forward, both firms will be working closely together, exploring domestic and international distribution opportunities for Sanomedics products.
South Ocean Growth Equity is a specialty private investment and advisory firm co-founded by John Sculley,(former CEO of Pepsi-Cola Company and former CEO of Apple Computer), and Sean Heyniger (Co-founder of Watermark Medical and former CEO of PDSHeart).
“The team at Sanomedics has made amazing strides over the last 12 months, and we feel the timing is perfect to join forces for rapid expansion,” stated Sean Heyniger, Co-Founder of South Ocean Growth Equity. “Our
involvement with Sanomedics will not be passive. We will be interacting on a daily basis, and will take advantage of every opportunity for growth.”
“In our negotiations with South Ocean, we realized what an amazing opportunity this represented to Sanomedics and our shareholder,” added Keith Houlihan, CEO of Sanomedics. “Not only does this provide us an ability to work with and learn from luminaries like John Sculley and Sean Heyniger, but affords Sanomedics access to markets and resources that may have taken us literally years to develop on our own. Our growth pace will now be much more rapid, and together we are ready to take on any challenge.”
Specific terms of the agreement will not be disclosed at the current time, but may be disclosed in-part as required by future regulatory filings. Both companies expect additional media announcements concerning this relationship in the near future.
About Sanomedics
Sanomedics International Holdings, Inc. (SIMH) designs, develops and markets innovative medical health and wellness diagnostic products targeting three key markets -- professional medical service providers, consumer home healthcare, and the rapidly expanding health sector for pets. Capitalizing on the trend of personal responsibility for health and wellness for all family members, as well as an increasing focus nationally on preventative health as a means to control healthcare cost escalation, the goal of Sanomedics is to be the diagnostic bridge between the medical world and home.
About South Ocean Growth Equity
South Ocean Growth Equity (SOGE) focuses on start-ups founded by serial entrepreneurs with a primary focus on healthcare and medical products, technology-enabled internet products, and services companies. SOGE is a Florida based investment firm, led by co-founders John Sculley and Sean Heyniger. Messrs. Sculley and Heyniger, having worked together since 2005, formed SOGE in 2008 to assist companies founded by serial entrepreneurs by providing management expertise and deep domain experience. In addition to providing management and industry expertise, SOGE assists companies with raising capital. Companies will benefit from SOGE’s access to proprietary deal flow, management expertise and experience building and selling companies. Messrs. Sculley and Heyniger together have a proven history of successful investments in multiple operating companies. SOGE’s other members are seasoned operating and investment professionals who provide additional depth and expertise to SOGE. Prior to co-founding SOGE, Mr. Sculley served as CEO of Pepsi-Cola Company and Apple Computer, Inc. Prior to co-founding SOGE, Mr. Heyniger served as CEO of PDSHeart, and as a senior sales executive at PSS World Medical. Mr. Heyniger currently serves as CEO of Watermark Medical LLC.
Forward-Looking Statements
This press release may contain statements which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the intent belief or current expectations of the Company, its directors, or its officers with respect to the future operating performance of the Company Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The company’s periodic filings with the Securities and Exchange Commission should be viewed for a complete understanding of risk and uncertainty.
www.sanomedics.com :
Sanomedics International Holdings, Inc.Keith Houlihan, 305-433-7814
