Released on: May 28, 2008, 1:14 pm
Press Release Author: Joel Pensley
Industry: Software
Press Release Summary: Physicians Remote Solutions, Inc. Enters into Letter of Intent to Acquire Valtech Communications Inc.
Press Release Body: Physicians Remote Solutions, Inc. Enters into Letter of Intent to Acquire Valtech Communications Inc.
Ile des Soeurs, Quebec , Canada, May 28, 2008 / Physicians Remote Solutions, Inc. (OTCBB:PHYU) announces that it has today entered into a letter of intent to acquire Valtech Communications Inc., a supplier of next-generation triple-play services in Canada. The acquisition will close as soon upon final review by counsel of Physicians Remote and the shareholders of Valtech of the draft acquisitions agreement.
Pursuant to the letter of intent, Valtech shareholders will receive an aggregate of 40 million shares of Physicians Remote’s common stock.
Communications Valtech owns and operates a triple play (telephone, internet and TV channels distribution) network in Canada via fiber. It presently offers its fast growing retail customer base IP telephony, internet bandwidth in 10 Mbps increments and 83 television channels all based on IP of broadcast quality. Valtech also services hotel and retirements homes by offering bulk long term agreements to its commercial customers.
Valtech has chosen Ericsson's (NASDAQ:ERIC) IPTV solution as part of the expansion of its technology base.. Using Ericsson's IPTV technology, Valtech will be able to provide new and value-added television services to its customers. The Ericsson solution consists of next-generation broadband access, multi-service edge routers, world-leading video compression, IPTV middleware, and content distribution platforms. The next-generation broadband infrastructure makes it much easier to combine data, voice and video services.. The solution will enable Valtech to offer a wide range of standard, high-definition broadcast channels and interactive services. Ericsson's IPTV solution will bring personalized and interactive multimedia services that are beyond today's broadcast-TV experience.
The Company is headquartered in Ile des Soeurs, Quebec, Canada
"Safe Harbor Statement"
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
René Arbic, President
550 Chemin du Golf, Suite 202
Ile des Soeurs, Québec,
Canada H3E 1A8
514-380-5353
SOURCE
Physicians Remote Solutions, Inc.
Web Site: http://www.valtech.ca
Contact
Details: 550 chemin du golf suite 202
Iles des soeurs QC
Canada H3E1A8
5143805353