DANBURY, Conn., May 14 /PRNewswire-FirstCall/ -- MedEx Corp. (OTC Bulletin Board: MDEX), announced today that it has closed on its previously announced Letter of Intent to merge with STG Corp. "We believe there exists a tremendous opportunity in providing U.S emerging growth medical device OEMs, access to high growth regions, such as the Black Sea Economic Zone," stated MedEx's Chairman Marion Day. MedEx's CEO Irvin R. Dyer, III further commented, "The MedEx management team leverages decades of experience in foreign trade, international healthcare and past success in bringing U.S. based medical equipment OEMs and new technologies into these territories. These companies are seeking growth in markets abroad, while the national governments of the regions search for innovative solutions, in providing their constituents access to state of the art healthcare systems. MedEx is poised to benefit from a convergence of these dynamics." MedEx Corp. was advised on the transaction by Boston-based merchant bank Dutchess Advisors, Ltd. About MedEx: MedEx Corp. provides end to end solutions to bring U.S. medical technologies and equipment into high growth, developing markets. The Company is initially focused on the Black Sea Economic Zone, a region of nearly 200 million people, which includes countries such as Romania, Bulgaria, Ukraine, Belarus, Greece, Turkey, Serbia, Croatia, Slovenia, Slovakia and Hungary. Additionally, MedEx owns and operates an Imaging Diagnostic Center in Romania, which provides clinical services for patients on MRI and CT Scanning. This center and the planned roll out of other imaging centers, also provides MedEx with qualified medical environments for introducing new U.S. medical technologies and devices, and can be replicated in select markets. In conjunction with the provisions of the Safe Harbor section of the Private Securities Litigation Reform Act of 1995, this news release may contain forward-looking statements pertaining to future anticipated projected plans, performances and developments, as well as other statements relating future operations. All such forward-looking statements are necessarily only estimates of future results and there can be no assurance that actual results will not materially differ from expectation. Further information on potential factors that could affect MedEx Corp., is included in the Company's filings with the Securities Exchange Commission. Further information on MedEx Corp. can be obtained by visiting the Company's website at http://www.medexcorp.com. Further information on Dutchess Advisors, Ltd. can be obtained by visiting http://www.dutchessadvisors.com MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X19143457 SOURCE MedEx Corp. -0- 05/14/2002 /CONTACT: Michael Novielli of MedEx Corp., +1-203-748-6361 / /Web site: http://www.medexcorp.com. http://www.dutchessadvisors.com/ (MDEX) CO: MedEx Corp.; STG Corp. ST: Connecticut IN: OTC HEA MTC SU: TNM -0- May/14/2002 13:31 GMT
MedEx Corp. Closes Merger with STG Corp.