OREM, Utah, Dec. 3, 2013 (GLOBE NEWSWIRE) -- ActiveCare, Inc. (OTCBB:ACAR) (www.activecare.com), a leader in diabetes management and wellness services, announced today that it has retained DelMorgan & Co. (www.delmorganco.com), an internationally recognized investment banking firm, as its financial advisor to advise ActiveCare on its strategic alternatives, including growth capital investments, possible acquisitions or divestitures, joint ventures or other strategic alliances, and other initiatives to deliver shareholder value.
David Derrick, Chairman and CEO of ActiveCare, stated, "We are very excited about our engagement of DelMorgan & Co. Their experience and professionalism in capital raising and M&A will help us analyze ActiveCare's strategic options and pursue growth through transactions that will benefit our company and our shareholders."
Rob Delgado, Chairman of DelMorgan & Co., commented, "We are pleased to be working with ActiveCare. They have developed unique and patented solutions for diabetes management that work, and their recent growth is a testament to the attractiveness of the ActiveCare approach to health plans, third party administrators and employers across the country." Mr. Delgado noted, "ActiveCare has grown its diabetes management business over the past 18 months from essentially nothing to monitoring over 30,000 diabetic members for almost 100 employers. But the potential for growth is vast. With over 25 million diabetics and another 79 million pre-diabetics in the United States costing over $245 billion per year – 33% of the nation's total healthcare costs – there is tremendous market demand for an approach that has been shown to significantly reduce those costs. ActiveCare has that solution."
Neil Morganbesser, President & CEO of DelMorgan & Co., added, "We are very much looking forward to engaging with ActiveCare and helping them realize their growth potential. With a substantial sales pipeline and the need to fund working capital for growth, solving ActiveCare's short-term financial challenges should unlock the opportunity for explosive future expansion and substantial profitability. These are high-class problems confronted by many successful companies who have demonstrated 'proof of concept' in the market and are poised to grow rapidly. Our goal is to help ensure that capital is available for growth and the company can execute on its business plan."
ActiveCare, Inc. provides patented diabetes and chronic disease management and wellness solutions that increase visibility, lower costs and provide real-time care for members resulting in improved outcomes. Utilizing state-of-the-art meters with embedded cellular technology, highly trained CareSpecialists can intervene in real-time and provide members with the support needed to control their disease 24 hours a day, every day. Headquartered in Orem, Utah and publicly traded on the OTC Bulletin Board under symbol ACAR, ActiveCare's solution is revolutionizing the way employers, individuals and their health plans monitor chronic disease. To learn more about ActiveCare, Inc., visit the website at www.activecare.com.
About DelMorgan & Co.
DelMorgan & Co. (www.delmorganco.com) is an internationally recognized investment bank and financial advisor. With over 150 years of combined experience and over $250 billion in successfully completed transactions, the professionals at DelMorgan & Co. provide world-class financial advice and assistance to companies, institutions, governments and individuals around the world.
ActiveCare has not made any decision to enter into a transaction, and there can be no assurance that ActiveCare will enter into a transaction in the future. ActiveCare does not plan to disclose or comment on developments regarding the strategic alternatives review process until it is complete or until further disclosure is appropriate.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding ActiveCare's expectations with respect to strategic opportunities and possible future transactions. 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, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Readers of this press release are referred to the Company's filings with the Securities and Exchange Commission, including the Company's reports on Form 10-K, Forms 10-Q and Forms 8-K for further discussions of factors that could affect the Company's business and its future results. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. The Company assumes no obligation to update forward-looking statements if conditions or management's estimates or opinions should change.
For further information, contact Rob Delgado or Neil Morganbesser at DelMorgan & Co. at (310) 319-2000 or visit www.activecare.com.