
Transaction Announcement
A merger for the growth of
PatientTrac
November 26, 2012 - Big Ben
Venture Partner AB a private advisory firm announced today the Merger
Agreement and Plan of Re-Organization (“Reverse Merger”) between Leox
Holding AB (publ) (NGM: LEOX MTF) a Swedish Limited Company (the
"Company") and PatientTrac Information Technology Corporation, a
Delaware Corporation. After the completion of the The public merger in
January, 2013 the Company will change its name to PatientTrac
International Medical Technology AB.
PatientTrac Information
Technology Corporation is engaged in electronic Medical Records (EMR)
focused on psychiatry and mental health, offering the only health
system in the market which specializes in adult psychiatry, child and
adolescent psychiatry, geriatric psychiatry and psychiatric tests. The
system includes other medical glossary, quantifiable patient tests,
computable clinical data and high customization.
Prior to completion of the Reverse Merger, the Company was deemed a
shell company having limited business operations and resources. The
Company will be filing a connection memorandum reflecting the fact that
it has new business purpose. Shares of the Company’s common stock are
currently quoted for trading on the NGM under the symbol "LEOX MTF."
PatientTrac is well
positioned to capture a significant share of the growing market for
healthcare technology thanks to its unique product design and
development. PITC markets, installs and supports PatientTracs products
and hardware equipment medical clinics, psychiatric clinics, hospitals,
psychiatric facilities and prisons in the United States. Thanks to new
legislation in the U.S. which will come into force on 1 January 2013,
the market will grow substantially over the next few years for
PateintTracs portfolio (EMR). PatentTrac is also planning a launch of
their products on the European market.
The rising demand for the
healthcare cost containment and need to improve the quality of health
care services are driving the growth of the EMR market in the U.S. The
U.S. EMR market is expected to grow from $ 2.177 million in 2009 to $
6.054 million in 2015 at an Estimated CAGR of 18.1% During the forecast
period 2010-2015. Estimates of the U.S. Market by 2013 is 9.7 Billion
dollars per annum and the Global Market for Electronic Medical Records
is anticipated to reach 19.7 Billion Dollars village in 2013. The
Mental Health market represents Approximately 25% of the total
healthcare budget, eg 2.4 Billion per annum U.S. and 4.9 Billion per
annum globally.
The Company is headquartered in Helsingborg, Sweden and Miami Florida
USA.
Big Ben Venture
Big Ben is a qualified partner with more than 20 years experience in
raising capital.
The information contained herein is
for informational and discussion purposes only and is not intended to
be, nor shall it be, construed as legal, tax or investment advice or as
an offer, or the solicitation of any offer, to buy or sell any
securities. Before entering into any investment you should thoroughly
review the respective transaction documents with your legal, tax and
investment advisors.
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