AMHN Inc. announced today that it has entered into a Letter of Intent (LOI) with Delaware-based Gordon Communications Inc. to acquire Spectrum Health Network Inc., a digital signage waiting room network built for the multispecialty group practice and independent physician associations.
Spectrum was developed to be an extension of the medical practice, enabling the group practice to relay custom-produced health-specific educational content to patients while waiting for their physicians, according to the release from AMHN. Spectrum provides its clients with a powerful tool for practice enhancement, patient communications and as a viable method to deliver patient-directed educational initiatives, the company says.
AMHN is the parent company of America’s Minority Health Network Inc., which it says is the only place-based provider of digital video education for medical practices primarily serving the African-American population in the United States.
“Spectrum will be a perfect complement to America’s Minority Health Network and will expand our reach in patient-specific health education,” AMHN CEO Robert Cambridge said. “Currently, Spectrum has more than 125 live locations with another 150 waiting to be installed and brought online.”
The terms of the LOI include the acquisition of all of Spectrum’s assets and liabilities, and 100 percent of the outstanding common stock of Spectrum in exchange for shares of AMHN common stock. The number of AMHN shares to be issued in exchange for the Spectrum shares will be determined upon the completion of due diligence and prior to the preparation of a definitive agreement between the parties. The company intends to close the definitive agreement before July 15.
Source link: America's Minority Health Network to buy Spectrum Health Network