iVoice Enters into Letter of Intent to Acquire Pharmaceutical Company
MATAWAN, N.J. - iVoice, Inc signed a non-binding letter of intent to acquire Thomas Pharmaceuticals Ltd. ("Thomas"). The transaction, which is subject to due diligence and the usual and customary conditions, is expected to close in December 2005. It is anticipated that Thomas will merge into a wholly owned subsidiary of iVoice.
Thomas Pharmaceuticals Ltd. develops and markets over the counter health care products. Thomas focuses on branded consumables. Its first product, Acid+All "TM," is a calcium-enriched, sugar free, anti-gas antacid tablet targeted to travelers, executives and baby boomers requiring antacid relief. The product is fully developed, and sample quantities have been submitted by an FDA approved contract manufacturer who can deliver production quantities within 60 days of receipt of a purchase order.