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news.Innovative Health Sciences has acquired two operating subsidiaries, HealthSonix Medical and AquaSonix Therapy Canada from HealthSonix in exchange for 35.36 million common shares of IHSI.
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This is said to be the first acquisition for Innovative Health Sciences (IHSI) since the name change from Royal Acquisitions and Development to Innovative Health Sciences.
Concurrent with the new acquisition, the company and PDI Mining mutually agreed to cancel their agreement. The company has also received and accepted the return of the shares put forth for the venture.
Chris Winter, president and CEO of Innovative Health Sciences, said: “Buying the two operating companies from HealthSonix is a strategic move to immediately enhance our shareholder value and represents the first step in our aggressive long term growth plan.”