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Acquisition of WNCK, Inc.

28 Feb 2006 07:00

Embargoed: 0700hrs, 28 February 2006 Akers Biosciences, Inc. ("Akers" or the "Company") Acquisition of WNCK, Inc. Akers Biosciences, Inc. (LSE.AKR) is pleased to announce that it hassuccessfully completed the acquisition of the assets of WNCK, Inc., ("WNCK") ofThe Woodlands, Texas, USA, for a total consideration of $563,000 to besatisfied as to $410,000 in cash and other considerations and through theissuance of 125,000 shares.WNCK is the leading distributor of disposable alcohol breathalyzers in the U.S.Its Breath Scan product line has been one of the industry standards for thepast 15 years. WNCK's customer base includes law enforcement agencies, retailchains, and the U.S. military. Akers has been the sole manufacturer of WNCK'sproducts for the past 5 years.Akers will benefit from the significantly increased margin and distributionchannels of its alcohol breathalyzer products, resulting from the purchase ofthis distributor. In addition to being profit-enhancing from the day ofacquisition, this transaction will establish the Company as the premier forcein portable alcohol breathalyzers in the U.S. and attractive cost savings arelikely to arise from the swift, full integration of WNCK's operation intoAkers.The acquisition will give The Company access to a broader client base. This isespecially important in view of the rapidly expanding market resulting from newCoast Guard regulations and military programs. With the acquisition of WNCK,The Company is well positioned to profit from this growing market.Akers expects the acquisition costs to be recouped within 18 months throughincreased margins and greater unit sales.Dr. Ray Akers, CEO of Akers Biosciences, Inc. said,"We are very pleased to add the highly established Breath Scan product line ofWNCK to our Breath Alcohol Check line of alcohol breathalyzers. Together, Akersand WNCK will command a strong presence in the market place. We have been verysuccessful at organically growing our own business, and welcome the opportunityto enhance this complementary product line.We are confident that the Breath Scan products will make a positive financialcontribution to our Company in the current year."Enquiries:Dr. Raymond Akers Chief Executive Officer, 020 7917 9476 Akers Biosciences, Inc. Paul Freedman Chief Financial Officer, 001 856 848 8698 Akers Biosciences, Inc. Ben Simons Hansard Communications 020 7245 1100 Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point ofcare screening and testing products designed to bring healthcare informationboth rapidly and directly to the patient or healthcare provider. The Companyhas advanced the science of diagnostics while responding to major shifts inhealthcare through the development of several proprietary platformtechnologies. The company's state-of-the-art rapid diagnostic assays can beperformed virtually anywhere in minutes when time is of the essence. Akers hasaligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwidecompetitor in diagnostics. Additional information on the Company and itsproducts can be found at www.akersbiosciences.com.ENDAKERS BIOSCIENCES INC
Date   Source Headline
31st Dec 20157:00 amRNSIssue of Equity & Directors' Shareholdings
1st Dec 20157:00 amRNSAkers Biosciences Updates on JV in China
23rd Nov 20157:00 amRNSAppointment of CEO
13th Nov 20157:00 amRNS3rd Quarter Results
12th Nov 201512:00 pmRNSAppointment of Non-Executive Director
11th Nov 20157:00 amRNSNotice of Q3 Results
4th Nov 20157:00 amRNSHIT Test Approved by Chinese FDA
6th Oct 20157:00 amRNSCommercialization of New Breath Tests
30th Sep 20157:00 amRNSDistribution Agreements
14th Sep 20157:00 amRNSLaunch of Breath Ketone test
18th Aug 20157:00 amRNSHalf Yearly Report
14th Aug 20157:00 amRNSNotice of Half Yearly Results
13th Aug 20157:00 amRNSNotice of Half Yearly Results
3rd Aug 20155:29 pmRNSResult of AGM
30th Jun 20152:00 pmRNSAppointment of Non-Executive Director
25th Jun 20155:00 pmRNSAdjournment of Annual General Meeting
16th Jun 20152:30 pmRNSUpdate on Rapid Breath Tests for Wellness Industry
5th Jun 20153:45 pmRNSNotice of AGM and Proposed Board Changes
14th May 20157:00 amRNS1st Quarter Results
12th May 20157:20 amRNSAkers Introduces New Rapid Breath Tests
11th May 20155:50 pmRNSNotice of Q1 Results
11th May 20157:00 amRNSClaim Against ChubeWorkx Guernsey Limited
6th May 20157:01 amRNSResale Agreement
13th Apr 20157:00 amRNSDistribution Agreements
2nd Apr 20157:00 amRNSDistribution Agreement
23rd Mar 201510:52 amRNSFinal Results
19th Mar 20157:00 amRNSNotice of Results
9th Feb 201512:00 pmRNSAkers' Management System Certified to ISO 13485
26th Jan 20157:00 amRNSEuropean Patent Granted
20th Jan 20157:00 amRNSExpansion of US Sales Effort with Key Appointments
9th Jan 20153:03 pmRNSIssue of Equity
9th Jan 20157:00 amRNSIncentive Stock and Award Plan
18th Dec 20147:00 amRNSEuropean Distribution Agreements
10th Dec 20147:00 amRNSOrder to Supply PIFA Products to China
13th Nov 201412:00 pmRNSThird Quarter Results
10th Nov 201412:00 pmRNSNotice of Third Quarter Results
4th Nov 20144:49 pmRNSResult of AGM
23rd Oct 20141:20 pmRNSJV to Market Rapid Diagnostic Tests in China
17th Oct 20143:10 pmRNSNotice of AGM
16th Sep 20145:53 pmRNSAKERS BIOSCIENCES FEATURES ON GLOBAL MEDIA
9th Sep 201412:30 pmRNSSALES CONTRACT FOR RAPID CHOLESTEROL TEST
8th Sep 20147:00 amRNSChange of Adviser
15th Aug 20147:00 amRNSAppointment of Co-chairman
12th Aug 201411:00 amRNSHalf Yearly Report
5th Aug 20147:00 amRNSSenior Managerial Appointment
28th Jul 20147:00 amRNSFeasibility Study For Heart Attack Test
17th Jul 20147:00 amRNSUS Patent - Breath Ketone Detection Device
30th Jun 20147:00 amRNSPosting of Annual Report and Accounts
25th Jun 20147:00 amRNSUS Distribution Agreement
13th Jun 201411:11 amRNSGrant of Options and Directors Dealings

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