AMHN Plans Acquisition

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AMHN Inc., which provides educational video services for doctor’s office waiting rooms, said on Tuesday that it intends to acquire a similar company called Spectrum Health Network Inc. in a stock transaction.

The Burbank company, which targets medical practices that primarily serve African-Americans, said it signed a letter of intent with Gordon Communications Inc. to acquire Spectrum Health Network, a waiting room service aimed at multi-specialty group practices and independent physician associations.

Spectrum products communicate customized, health-specific content to patients while waiting for their physicians. The network is seen is more than 125 offices with another 150 waiting for installation, AMHN said.

“Spectrum will be a perfect complement to America’s Minority Health Network and will expand our reach in patient-specific health education,” said Chief Executive Robert Cambridge in the announcement.

AMHN said it intends to acquire Spectrum’s assets, liabilities and stock in exchange for shares of AMHN common stock. The value of the deal, which the company plans to close by July 15, was not disclosed.

AMHN shares closed unchanged at 90 cents on the Over-the-Counter Bulletin Board.

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