HENDERSON, Nev., Oct. 25, 2018 (GLOBE NEWSWIRE) -- United Health Products, Inc. (OTC: UEEC), (“UHP” or the “Company”), manufacturer and marketer of HemoStyp®, a patented hemostatic gauze for the healthcare and wound care sectors, today announced the following corporate developments:
Review of Strategic Alternatives
In connection with the FDA PMA Class III approval process for HemoStyp, UHP has been contacted by several medical technology companies that are active in the surgical equipment and hemostatic products sectors, and who have expressed an interest in the Company’s products and business strategy. In response to these inbound contacts, and to maximize shareholder value, the Company’s board of directors has determined to conduct a review of strategic alternatives, which include a potential sale of the Company, joint venture or other commercial partnership, or a standalone growth plan. To assist in this review, the Company has retained Société Générale to serve as financial advisor to the Company. The Company notes that there is no assurance this review will result in any transaction, and it will not reveal details of developments related to its review unless and until the board has approved a specific transaction or otherwise determined that further disclosure is appropriate.
About Société Générale Corporate & Investment Banking
Société Générale Corporate & Investment Banking (SG CIB) is a full-service investment banking firm offering tailor-made solutions to corporates, financial institutions and the public sector in over 40 countries. SG CIB’s U.S. advisory operations are based in New York and provide strategic advice and transaction execution expertise across the technology, healthcare, consumer, industrial and natural resources sectors.
About United Health Products
United Health Products develops, manufactures, and markets patented hemostatic gauze, for the healthcare and wound care sectors. The product, HemoStyp, is derived from regenerated oxidized cellulose. HemoStyp is an all-natural product designed to absorb exudate/drainage from wounds to help control bleeding. UHP is focused on identifying new markets and applications for its products and expanding its current markets. UHP currently sells a suite of hemostatic products to the dental, veterinary and retail markets.
For more on United Health Products, Inc. visit: www.unitedhealthproductsinc.com
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements.
United Health Products, Inc.
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