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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