LOS ANGELES, July 15 /PRNewswire-FirstCall/ -- Simmetech Inc. (OTC: SIMH), a Minnesota corporation, announced today that it has completed a stock exchange agreement with MedHealth Access Corp., a Delaware corporation. As a result of the transaction, MedHealth Access Corporation will become a wholly owned subsidiary of Simmetech Inc. Simmetech Inc. will change its name to MedHealth Access Corp., and has applied with the NASDAQ for a stock symbol change to MHAC.
Pursuant to the agreement, Simmetech officers will be replaced by those of MedHealth Access Corp. Robert Wasson will assume the role of CFO of the new combined company. Part of Wasson''s role will be to facilitate a smooth transition and the continuance of SIMH acquired technologies. Wasson recently stated in an interview "this is the single most important event in the history of Simmetech as the combined resources of both companies will perpetuate growth opportunity and accelerate significant revenue generation into the near future."
Simmetech Inc. is a publicly traded technology driven research and development company. Over the past years Simmetech has created relationships with several companies which has resulted in its acquiring and sharing the technologies that ultimately led to the stock exchange agreement with MedHealth Access.
MedHealth Access ( http://www.medhealthaccess.com ) is a healthcare information and technology company that delivers "fully" compliant software and hardware solutions that enable members of the Healthcare Industry to comply with the congressional mandate outlined in the Health Insurance Portability and Accountability Act (HIPAA).
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