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news.Pro-Tect has completed the acquisition of Medivices and all of its manufacturing, marketing and distribution rights related to certain nanotechnology method used in medical measurement devices in skin treatment and cosmetics.
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The acquired Medivices technology involves designing, marketing and manufacturing new innovative medical devices using nanomedicine and Micro-ElectroMechanical Systems.
The acquisition includes all patent and proprietary rights and property related to the technology. In consideration for the acquisition, Pro-Tect has issued 2.5 million shares of its common stock. As a result of the acquisition, Pro-Tect intends to oversee the development and manufacturing of the Medivices products and to facilitate the marketing and distribution of the products.
Nanomedicine is the medical use of molecular-sized particles to deliver drugs, heat, light or other substances to specific cells in the human body. Micro-ElectroMechanical Systems allow both electronic circuits and mechanical devices to be manufactured on a silicon chip, similar to the process used for integrated circuits. This allows the construction of items using sensor chips with built-in electronics that are a fraction of the size that was previously possible, the company said.