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RAIDEN RESOURCES LIMITED Capital/Financing Update 2006
65675_rns_2006-08-23_f22675e7-020d-4115-b1ce-1edeb962472d.pdf
Capital/Financing Update
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Medical Monitors acquires finance for health and lifestyle village
Key Points:
- MDM has received approval from Westpac Bank to provide mortgage finance for its first acquisition from RLD, namely Brisbane River Terraces
- MDM's acquisition of RLD's fully leased villages will provide tangible assets and revenue
- MDM plans to utilize the village client base to develop new health monitoring packages
Sydney, Australia: 24 August 2006: Medical Monitors (ASX: MDM) today announced that its first acquisition from property developer. Resort Lifestyle Developments (RLD), is progressing as planned. following Westpac Bank's approval to provide bank mortgage finance.
The balance of the settlement will come from Medical Monitors' fundraising, that is to be finalised at the upcoming Extraordinary General Meeting (EGM) on August 31, 2006. The Company's fundraising will be underwritten according to terms to be announced following the EGM.
"We are confident that the acquisition of this secure health and lifestyle villages will be a significant turning point for the company, in providing Medical Monitors with increasing net tangible assets and solid revenues" said Dr Allan Shell, Managing Director of Medical Monitors.
As previously announced, Brisbane River Terraces (BRT) is the first in a series of properties to be acquired from RLD, with a number of similar RLD projects to be offered to MDM in the future. BRT is an over 50s environmentally friendly health and lifestyle village that provides home-owners with all the facilities for resort style living, including leisure center, salt water pool, security and boat access to the local Brisbane River
"The villages will also provide Medical Monitors with direct access to an existing client base to develop new health packages", said Dr Shell. "There is a growing demand for health monitoring packages for the over 50s, with many having a cardiovascular condition that requires regular medical monitoring".
"Our business strategy is to deliver long term benefits to our shareholders through investments in Australian health and lifestyle villages' and in Primedical International Holdings, the global distributor of Medical Monitors' technology," he said.
| FUI TUITINGI INTUITIALIUN, DIGASE CUITLACI, | |
|---|---|
| Media | Medical Monitors |
| Daniella Goldberg | Dr Allan Shell |
| +61 2 9237 2800 | Managing Director |
| [email protected] | $+61293448100$ |
| [email protected] | |
| Investor communication | |
| Rebecca Piercy | |
| +612 9237 2800 | |
| [email protected] | |
Eas further information, plance contacts
About Medical Monitors:
Medical Monitors Limited (ASX: MDM) is a health sector company generating revenue from investment in resort lifestyle property and technology for the over 50s. The company specialises in home-based medical monitoring
Medical Monitors Limited Suite 407 Westfield Eastgardens Eastgardens NSW 2036 Tel (02) 9344 8100 Fax (02) 9344 8200 Web site: www.medmon.com.au
technology which allow doctors to remotely monitor the cardiovascular health of their patients. The technologies have been granted US Food and Drug Administration (FDA) notification to enable marketing and sales. The US arrhythmia monitoring market estimated to be more that USD\$550 million.
Medical Monitors is poised to invest in a number of fully leased health and lifestyle villages around Australia to build its asset base. It intends to develop new health packages for the over 50s market, utilising its direct access to the baby-boomer population in the acquired health and lifestyle villages, (www.medmon.com.au)
About RLD:
RLD is a property development and management business. RLD specialises in the development and management of high quality, secure Resort style over 50s residential villages. RLD has a team of professionals which include civil engineers, surveyors, lawyers, chartered accountants and builders as well as in house expertise of project management and development marketing. RLD's philosophy is simple; develop residential environments which set new levels of design comfort, affordability and security.
About Brisbane River Terraces (BRT):
BRT is a well appointed over 50s health and lifestyle village located alongside the tranguil Brisbane River. The village has 99 owner-occupied homes and is spread over a 10 hectare property. All residents enjoy the video monitored security of the gated community and have access to the village community facilities; such as inground swimming pool, community hall with gymnasium, craft room and library, as well as boat storage and ramp access to the Brisbane River. The village is conveniently located only 20 minutes from the major city of Brisbane, (www.brisbaneriverterraces.com.au)
About Primedical International:
Primedical International Holdings, Inc., soon to be listed on the OTC Bulletin Board of NASDAQ, will have newly appointed Directors, and will be engaged in the business of telemedicine and remote ambulatory monitoring. Primedical's strategy is to rapidly grow its current business in North America through the monitoring service company, iCardia Healthcare Corporation (www.icardia.com); and, to expand into Europe using MDM's cutting edge Australian designed technology already established in the US arrhythmia monitoring market. Frost and Sullivan have estimated that the US market for all monitoring devices in 2004 was worth US\$296million, and that the associated services market was worth up to US\$3.24 billion. (www.primedical.com)
Medical Monitors Limited Suite 407 Westfield Eastgardens Eastgardens NSW 2036 Tel (02) 9344 8100 Fax (02) 9344 8200 Web site: www.medmon.com.au