Business News • MarketWire • Radient Pharmaceuticals Enters Into a Letter of Intent to Acquire Provista Diagnostics Inc. |
Radient Pharmaceuticals Enters Into a Letter of Intent to Acquire Provista Diagnostics Inc. |
|
|
Radient Pharmaceuticals Enters Into a Letter of Intent to Acquire Provista Diagnostics Inc.
TUSTIN, CA--(Marketwire - July 13, 2010) - Radient Pharmaceuticals Corporation (RPC) (NYSE Amex: RPC) announced today that it has entered into a letter of intent (LOI) to acquire Provista Diagnostics Inc. (PDI), a Nevada corporation offering laboratory testing services that meet the Clinical Laboratory Improvement Act (CLIA) guidelines. Radient Pharmaceuticals intends to acquire PDI, in a stock-for-stock transaction, when respective due diligence for both companies is successfully completed. The rationale for the merger is that PDI has all rights, patents and trademarks for diagnostic technologies that Radient Pharmaceuticals believes will strengthen and complement its core business. Pursuant to the LOI, Provista will become a wholly-owned subsidiary of Radient Pharmaceuticals.
View More : http://www.marketwire.com/mw/release.do?id=1289114&sourceType=3
|
|
|