Biomed Industries, Inc. (“BIOMED” or the “Company”) announced that it has entered into a definitive share exchange agreement on September 16, 2022 with MedAware Systems, Inc. (“MedAware”) for the acquisition of all of the issued and outstanding shares of MedAware (the “Transaction”).
The Boards of Directors of BIOMED and MedAware have each approved the Share Exchange, pursuant to which all of the rights, titles and interests of all issued and outstanding of common shares of capital stock of MedAware will be exchanged for common stock of BIOMED at a ratio of 5.34 shares of MedAware for 1 new common share of BIOMED.
It was agreed that the market value of MedAware shares was $1.50 per share and the market value of BIOMED’s share was $8.00 per share, with the transaction valued at an aggregate of $18 million, to be paid in the form of 2,259,170 common shares of BIOMED. On the date of the Agreement, BIOMED has approximately 76,354,075 common shares.
Upon completion of the Transaction, Dr. Zung Vu Tran, the Co-founder and Chairman of MedAware will be appointed to the Board of Directors of BIOMED. Mr. Michael Willis, the CEO of MedAware will continue to serve as the President of MedAware, a wholly owned subsidiary of BIOMED.
“Biomed Industries, Inc. welcomes the management team and shareholders MedAware Systems, Inc. to be a part of Biomed. MedAware has cultivated outstanding talent. We plan to collaborate with MedAware to further develop its bio-informatics and machine learning technology to optimize and expand Biomed’s drug development in finding treatment and prevention for neurodegenerative diseases. BIOMED is at an inflection point for accelerating growth and value creation,” said Lloyd L. Tran, the Chairman and CEO of BIOMED.
“We are excited to be joining with Biomed Industries as they pioneer novel therapies for Alzheimer’s disease and other neurodegenerative disorders,” said Michael Willis, CEO. He continued, “Our massive data set on dementia, culled from over 3,000 clinical trials as well as over 7,000 published papers on the topic will empower deep analysis of the state-of-the-art in the field and to focus our considerable AI and machine learning capabilities to rapidly accelerate new drug development. We will also expand our current work with pharmaceutical and medical device companies under the aegis of a much larger organization to accelerate market penetration and revenue growth.”
The Board of Directors of MedAware having approved this Agreement, has scheduled a shareholder meeting to vote on the Share Exchange Agreement and Plan of Reorganization on or before September 28, 2022.
Approval for the Transaction will be sought from BIOMED’s shareholders at a special meeting of shareholders currently scheduled for September 30, 2022, which will be held electronically.
About Biomed Industries, Inc.
Biomed Industries™, Inc. is a bio-pharmaceutical company committed to the development and commercialization of new drug therapeutics for unmet needs. Biomed is a leading innovator, having discovered a new family of drugs which are in the clinical stage for the treatment of Alzheimer’s disease. For more information, please visit https://www.biomedind.com.
MedAware Systems, Inc.
MedAware Systems is a growth stage, next generation medical data and analytics company. Combining Real World Evidence (RWE) extracted from government adverse event databases and social media with scientific data from published medical research (meta-analysis), the Company provides unprecedented business intelligence to support regulatory filings, competitive analysis, and marketing messaging. For more information, please visit https://medawaresystems.com.
For media enquiries, please contact:
Biomed Industries, Inc. San Jose, CA 95131 USA Tel. 800-824-5135 Jennifer Thompson Email: media@biomedind.com JThompson@biomedind.com www.biomedind.com
Biomed Industries, Inc. Jennifer Thompson 800-824-5135 www.biomedind.com Fern Vu fvu@biomedind.com
Keep Irving Beautiful (KIB) recently partnered with BBB Industries for an Earth Day service project. On April 8, nine employee volunteers from the company’s Irving office met at the KIB office, where they were equipped with bright yellow vests, litter grabbers, gloves, trash and recycle bags. The group then went to their destination, the Rock Island Bike and Pedestrian Trail, where they collected litter from the tree line near the trail. They collected 48 pounds of trash and 6 pounds of recyclables.
BBB Industries has been a pioneer in sustainable manufacturing for more than 30 years, and currently does business in 58 countries. Through a circular process, they receive used automobile parts, manufacture them to like-new quality, and ship them to customers in return for more parts. BBB recently has expanded their business to include upcycling and extending the life of solar panels and EV batteries.
“KIB is excited to welcome BBB Industries as a new partner,” said KIB board member Kelly Horn. “Their focus on recycling and repurposing products fits perfectly with our mission and goals. The Irving location reached out to us for a project during April – Earth Month – that would make a positive impact, and they did an outstanding job with the cleanup.”
Keep Irving Beautiful is a nonprofit organization dedicated to educating the community about litter abatement, recycling, and beautification to help preserve the health and promote the social and economic prosperity of the city. As an award-winning affiliate of Keep America Beautiful and Keep Texas Beautiful, Keep Irving Beautiful reaches out to all sectors of the community, including government, businesses, churches, as well as cultural, educational, neighborhood and civic organizations. For more information on volunteering with KIB or making an activity a “green event,” visit CityofIrving.org/KIB or call (972) 721-2175.
Keep Irving Beautiful Rick Hose 972-721-2175 http://www.cityofirving.org/284/Keep-Irving-Beautiful
Hong Kong-based global power equipment and floorcare & cleaning company Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, ADR symbol: TTNDY) is pleased to report that 2021 was an extraordinary year for TTI with outstanding revenue and profit growth. The Group delivered sales of US$13.2 billion, an increase of 34.6%. Over the two-year period, TTI significantly outperformed the market with +72.2% sales growth. Increased strategic investments in new product, manufacturing capacity, geographic expansion, logistics, and in-field marketing initiatives propelled TTI’s industry leading performance. — Full year organic sales growth of US$3.4 billion, +34.6%
— Gross margin improved for the 13th consecutive year to 38.8%, up +54 basis points
— Net profit growth of 37.2% to US$1.1 billion
Gross margin improved for the 13th consecutive year, from 38.3% in 2020 to 38.8% in 2021. The gross margin improvement is a direct result of the launching of high margin new products, disciplined mix management, exceptional productivity gains, and volume leverage.
EBIT increased 37.2% to US$1.2 billion, with the EBIT margin improving by 17 basis points to 9.0%. Net Profit rose 37.2% to US$1.1 billion, with earnings per share increasing 37.1% over 2020 to US60.04 cents. With the investments in inventory to support sales growth and high service levels, the Group maintained a disciplined working capital ratio at 20.9% of sales.
Every one of the Group’s business units in all geographic regions delivered exceptional sales growth in 2021. North America grew 33.7%, Europe grew 41.1% and ROW grew 31.8%. The Power Equipment business, representing 90.6% of total sales, grew 37.0% to US$12.0 billion. The Milwaukee business, Ryobi DIY, and Ryobi Outdoor businesses all achieved double-digit growth, significantly outgrowing the market. The Floorcare and Cleaning business also produced strong sales growth of 14.8% to US$1.2 billion.
The Board is recommending a final dividend of HK 1 dollar (approximately US12.87 cents) per share. Together, with the interim dividend of HK85.00 cents (approximately US10.94 cents) per share, this will result in a full-year dividend of HK185.00 cents (approximately US23.81 cents) per share, against HK135.00 cents (approximately US17.37 cents) per share in 2020, an increase of 37.0%.
Mr. Horst Pudwill, Chairman of TTI, said, “We are confident that our unrelenting bold vision, customer focus and business momentum will make 2022 another outstanding year and position TTI with exciting opportunities in the months and years ahead.”
Mr. Joseph Galli, CEO of TTI, commented, “TTI is now uniquely positioned to continue our leadership position in professional cordless, DIY cordless, outdoor cordless, and in floorcare. In 2022, we are excited to continue making substantial investments in the business, to drive another year of above market results and gross margin expansion.”
About TTI Founded in 1985 and listed on the Stock Exchange of Hong Kong Limited in 1990, TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products for the consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers – Powerful Brands, Innovative Products, Exceptional People and Operational Excellence – reflecting a long-term expansive vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries. TTI’s powerful brand portfolio includes MILWAUKEE, AEG and RYOBI power tools, accessories and hand tools, RYOBI and HOMELITE outdoor products, EMPIRE layout and measuring products, and HOOVER, ORECK, VAX and DIRT DEVIL floorcare and cleaning products.
TTI is one of the constituent stocks of the Hang Seng Index, FTSE RAFI(TM) All-World 3000 Index, FTSE4Good Developed Index and MSCI ACWI Index. For more information, please visit www.ttigroup.com.
All trademarks listed other than AEG and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.), and is used under license. RYOBI is a registered trademark of Ryobi Limited, and is used under license.
TORONTO – Sept. 9, 2021 – PRLog — The creative industries include ventures and interests in the film, music, visual arts, technology, literary and dramatic fields. Culture, including cultural representations are also dynamics in these narratives. In this webinar, industry experts and entrepreneurs who work in the creative industries will discuss issues and developments that impact the ability of creators to leverage their output to a global marketplace. The webinar takes on a practical discussion with people who work in the creative and cultural industries.
Speakers include: Dr. Anna-Marie White, Strategic Advisor, Toi Maori- New Zealand Tika Gilbert, Architect, Designer and Photographer, Tika Gilbert Designs – Bermuda J.Sandiford, Digital Entrepreneur and Author, Antonio Media – The Netherlands Tamahou Temara, General Manager, Toi Maori – New Zealand Rodrigo Barreda, Education and Programming Director, LACAP – Toronto
When: September 15th Time: 3:30-4:30pm ET. To register visit: https://event.webinarjam.com/channel/canaanbridgesconsult
Come for the talk, stay for the insight!
Canaan Bridges Consulting Inc. We Help You: Grow. Achieve. Accelerate.
Hong Kong-based global power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Group”) (stock code: 669, ADR symbol: TTNDY) announced its results for the six months ended June 30, 2021. The Group delivered extraordinary results for the first half of 2021, growing sales by 52.0% to US$6.4 billion. Gross margin improved for the 13th consecutive first half to 38.6%, and the growth in EBIT, net profit, and earnings per share all outpaced sales growth. EBIT increased 57.4% to US$572 million, net profit rose 57.9% to US$524 million, and earnings per share increased 57.8% to approximately US28.62 cents per share.
— Exceptional sales growth of 52.0% — Sales growth of 71.5% over two years, compared to the first half of 2019 — Strong sales growth across all businesses and geographies — Gross margin improved for the 13th consecutive first half to 38.6%, up 58 basis points — Net profit growth of 57.9% to US$524 million
Working capital as a percent of sales finished at 18.3%, below TTI’s goal of 20.0% or less. The Group continues to strategically build inventory to support its exceptional above market growth, to serve its customers with consistently high service levels, and to insulate the company from potential critical component shortages.
The TTI Power Equipment segment delivered sales growth of 55.3% to US$5.8 billion. All geographies and business units contributed to this stellar performance in the first half of 2021. The flagship Milwaukee business delivered an astounding 64.1% growth globally. RYOBI performed exceptionally well across all brands with solid double-digit growth in all categories and geographies. In addition, the Floorcare & Cleaning business accounted for 9.0% of total TTI sales, with sales increasing 25.3% to US$574 million.
Mr. Horst Pudwill, Chairman of TTI, said, “At TTI, we have built an exceptional world-class team and we would like to recognize our outstanding global organization for delivering strong results. We are proud of the bold, strategic decisions we have made over the past 18 months to position ourselves for a strong second half of 2021.”
Mr. Joseph Galli, CEO of TTI, commented, “TTI’s first half results clearly demonstrate our leadership position, our momentum, and our future potential. Our high-speed new product machine allows us to expand the market and capture market share, while we continue to improve gross margin to record levels.”
About TTI Founded in 1985 and listed on the Stock Exchange of Hong Kong Limited in 1990, TTI is a world leader in cordless technology spanning Power Tools, Outdoor Power Equipment, Floorcare Cleaning Products and Solutions for the consumer, professional, and industrial users in the home, construction, maintenance, industrial and infrastructure industries. The Company has a foundation built on four strategic drivers – Powerful Brands, Innovative Products, Exceptional People and Operational Excellence – reflecting a long-term expansive vision to advance cordless technology. The global growth strategy of the relentless pursuit of product innovation has brought TTI to the forefront of its industries. TTI’s powerful brand portfolio includes MILWAUKEE, AEG and RYOBI power tools, accessories and hand tools, RYOBI and HOMELITE outdoor products, EMPIRE layout and measuring products, and HOOVER, ORECK, VAX and DIRT DEVIL floorcare cleaning products and solutions.
TTI is one of the constituent stocks of the Hang Seng Index, FTSE RAFI(TM) All-World 3000 Index, FTSE4Good Developed Index and MSCI ACWI Index. For more information, please visit www.ttigroup.com.
All trademarks listed other than AEG and RYOBI are owned by the Group. AEG is a registered trademark of AB Electrolux (publ.), and is used under license. RYOBI is a registered trademark of Ryobi Limited, and is used under license.
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