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news.Certified Diabetic Services, a distributor of diabetic supplies and pharmaceutical services, has terminated the asset purchase agreement and plan of reorganization signed in July 2008 with Andover Medical and Medical Solutions Management due to the parties' failure to consummate the agreement by December 31, 2008.
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The purchase agreement contemplated the acquisition of the operating subsidiaries of the company and Andover Medical by Medical Solutions Management (MSMT) in exchange for capital stock of MSMT.
Lowell Fisher, CEO and chairman of the board of directors of Certified Diabetic Services, said: “While we are disappointed we did not close the transaction, the company has some great opportunities in 2009 that we are very excited about.”