Oncologix Tech, Inc. acquired Esteemcare Inc. from Madhu Mathew Mammen and Imad Siddiqui for $0.5 million.
In connection with this acquisition, Oncologix drew down a second tranche from its senior secured lender in the amount of $1.2 million. Under the terms of the Agreement, Harold Halman was appointed President and Chief Operating Officer, Michael A. Kramarz was appointed Chief Financial Officer, and Roy Wayne Erwin was appointed Chief Executive Officer of Esteem. There were no changes to the officers or Directors of the Oncologix. The deal is subject to regulatory approval, execution of the ancillary agreements and legal, financial and commercial due diligence. Daniel G. McKay of Eaton Peabody acted as legal advisor to Madhu Mathew Mammen and Imad Siddiqui. David M. Barbash of Posternak Blankstein & Lund LLP acted as legal advisor to Oncologix.
Oncologix Tech, Inc. (OTCPK:OCLG) completed the acquisition of Esteemcare Inc. from Madhu Mathew Mammen and Imad Siddiqui on September 25, 2014.