Lifestream Technologies Engages Broadmark as Investment Banking Firm; Group To Focus On Securing Institutional Investment
POST FALLS, Idaho, (BUSINESS WIRE), July 23, 2002–Lifestream Technologies® (AMEX:KFL), the leading manufacturer of smart card-enabled home cholesterol monitors, today announced it has retained Broadmark Capital, LLC, for investment banking services. Based in Seattle, with an office in New York, Broadmark is an investment bank with practices in corporate finance and asset management. Broadmark maintains an active practice providing financing and advisory services to emerging technology companies.
“By engaging Broadmark as our investment banker, Lifestream will gain access to top-tier institutional capital,” said Lifestream’s Chairman, President & CEO, Christopher Maus. “Broadmark has a strong reputation in accelerating corporate ventures within the emerging technology and biotechnology/health markets, and we intend to leverage their expertise to secure appropriate resources for our next stage of growth.”
“We place tremendous emphasis on our client selection and work only with those companies that we believe have the elements critical for success: a significant market opportunity, a compelling business strategy and a strong management team,” said Scott Feldman, a Managing Director at Broadmark. “Because of these strengths, Lifestream is positioned for growth and, by establishing our relationship with them, we have committed ourselves to seeing the company succeed.”
The Lifestream Cholesterol Monitor offers consumers a fast, easy and accurate way to monitor their cholesterol levels in the convenience of their home, between doctor’s visits. Cleared in July 2000 by the FDA, the Lifestream Cholesterol Monitor allows up to 200 test results to be downloaded onto the Data Concern™ Personal Health smart card that comes with the unit. It allows users to securely store test results, average those results, and share them with healthcare professionals.
Consumers can find out which retailers carry the Lifestream Cholesterol Monitor by going to “Store Locator” at the Web site http://www.knowitforlife.com. The monitor has a suggested retail price of $129.95.
Broadmark Capital, LLC, is an investment bank based in Seattle providing a wide range of investment, advisory, and financing services to a diverse client base. Broadmark focuses on assisting emerging technology companies to gain access to “smart” capital–institutional investors with the connections, resources and networks necessary to rapidly build significant enterprises. Broadmark aims to create significant value for investors through the identification and placement of outstanding early stage technology companies with some of the best sources of capital in the business.
About Lifestream Technologies
Lifestream Technologies (AMEX:KFL) is a leading manufacturer of smart card-enabled healthcare diagnostic devices. The company developed and currently markets a line of cholesterol monitors to consumers and healthcare professionals that provide test results in three minutes. The Company’s proprietary smart card and Web-based healthcare information systems will be incorporated into additional at-home healthcare monitors in the future. For more information please visit http://www.knowitforlife.com and http://www.lifestreamtech.com.
This news release may contain information deemed to be forward-looking statements under the law involving risks and uncertainties. The Company’s actual results could differ materially from this news release. Additional information about risks of the Company achieving the results suggested by any forward-looking statements may be found under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s 10-K.
Brett Sweezy, 208-457-9409 ext. 1212
Nigel Smith or Chad Castro, 781-684-0770