Merger: Cavit Sciences Takes over National Health Services
Last update: 7/8/2009 8:00:02 AM
PATERSON, N.J., Jul 08, 2009 (BUSINESS WIRE) -- Cavit Sciences,
Inc (CVIT) is pleased to announce that it has successfully
completed a corporate takeover of National Health Services, and
this progress only a few months after shareholders took control
and ousted the former CEO.
The deal was orchestrated by Elizabeth Gannon, a key player in
developing national projects to provide solutions for companies
like United Health Group (UNH) and it's subsidiary HealthAllies,
now OptumHealth Allies. Gannon will run the new Cavit division,
and has flatly stated, "I'm not here to babysit this company. I'm
here to do what I do best and that's to make things grow-- and
grow in a big way. Cavit offered a great fit for National Health
Services and the two companies are a lot stronger together. How
much stronger? I can't comment on that, but I will say that from
my share of the deal I am happy to now hold a lot of restricted
Cavit Sciences stock."
Gannon, who does not have a majority of control in the company,
said, "This company is run by shareholders, and I work for my
shareholders. That means we can accomplish our goals without doing
reverse stock splits, and without any gimmicks. In fact, we are
working on numerous new projects now, but it is premature to make
any announcements yet. We will be in communication with the public
as things happen."
Some months ago, Cavit Sciences went through a hostile takeover as
a group of unsatisfied shareholders came together and ousted the
former CEO for failing to provide shareholder value. Together,
they are looking for ways to use the technology the company owns
to leverage a new growth strategy. Read more about Cavit Sciences
at the company's website, .
National Health Services' concept was developed by health
insurance expert Elizabeth Gannon as a way to help reform health
care by putting a lid on costs and filling the gap between what
insurance allows and what people really need. National Health
Services provides mainstream solutions for health care reform
whose time has come. The company may experience a growth surge if
health care reform happens. More to read at .
SOURCE: Cavit Sciences, Inc
Cavit Sciences, Inc
Maggie Smyth, 973-278-7327