Health Advance Inc. (OTC Pink: HADV) operates as an online medical device and supplies retailer, across the United States and Canada. Health Advance Inc. is seeing shares rally 13.40%, during early trading on Wednesday, October 5, 2016. Over the past three months, the online health retailer has seen average daily volume of around 150,502 shares. However, nearly 537,250 shares or dollar volume of $214,900, has already exchanged hands through early trading Wednesday.
Shares of Health Advance Inc. are rallying today after management announces the company has entered into an agreement to fully acquire the online business, DiscountSeniorSupply.com. Under the agreement, Health Advance Inc. will issue 400,000 shares of common stock, one-time cash payment of $10,000, and the acquisition is expected to be complete by October 31, 2016. Here is the complete press release of the recent acquisition:
Health Advance Inc. Press Release:
LAS VEGAS, NV–(Marketwired – Oct 3, 2016) – Health Advance Inc. ( OTC PINK : HADV ) is pleased to announce that on October 2, 2016, the Company signed a definitive agreement (“Definitive Agreement”) to acquire 100% interest in the web domain www.discountseniorsupply.com. As a result of the acquisition, Health Advance will also have the license to the interspire e-commerce shopping cart, the supplier relationships, a team located in India that would manage the e-commerce web business and provide customer support along with marketing reports and updates. Pursuant to the Definitive Agreement, on closing the Company will issue 400,000 shares of common stock of Health Advance and a one-time cash payment of $10,000 representing the total purchase price of DiscountSeniorSupply. The acquisition is expected to close on or before October 31, 2016.
“We believe the acquisition of discountseniorsupply.com is a very important step for Health Advance. This acquisition expands our presence in the medical supply sector and will assist Health Advance in generating revenue in this growing sector. We believe we will benefit significantly from certain favorable demographic and industry trends, including the rising healthcare needs of the aging population, a heightened focus on health and wellness by the baby boomer generation, and increased demand for lifestyle drugs,” stated President and CEO, Jordan Starkman.