HNR, Harvest Natural Resources Inc.
** HNR reported hat its wholly-owned subsidiary, HNR Energia B.V., has signed a definitive Share Purchase Agreement (SPA) with PT Pertamina (Persero), the national oil company of Indonesia (the Buyer), to sell all of the Company's interests in Venezuela for $725.0 million in an all-cash transaction.
Net proceeds from the sale are estimated to be approximately $525.0 million after deductions for transaction related costs and taxes.
The Buyer will purchase HNR's 32 percent interest in Petrodelta, S.A. by purchasing HNR Energia B.V.'s 80 percent interest in Harvest-Vinccler Dutch Holding B.V.
HNR is an independent energy company with principal operations in Venezuela, exploration assets in Indonesia, West Africa, China and Oman and business development offices in Singapore and the United Kingdom.
More about HNR at www.harvestnr.com.
BMTI, BioMimetic Therapeutics Inc.
** Dr. Timothy Daniels, associate professor of orthopedic surgery at the University of Toronto and St. Michaels Hospital and lead investigator, presented the results of a Canadian registration study comparing Augment(TM) Injectable Bone Graft (AIBG) to autograft in foot and ankle fusion surgery. Augment Injectable is an injectable bone graft developed by BMTI.
The presentation took place at the American Orthopaedic Foot and Ankle Society (AOFAS) annual meeting. As presented by Dr. Daniels, the trial met its primary endpoint of non-inferiority of AIBG to autograft as assessed by CT scan at six months.
Dr. Daniels reported that assessment of the primary endpoint revealed that 53/63 (84.1%) of the AIBG-treated patients and 100/154 (64.9%) of the autograft-treated patients were fused as determined by six month CT scans (p<0.001). Patients were followed clinically for 52 weeks, at which time 57/63 (90.5%) of the Augment Injectable patients and 120/154 (77.9%) of autograft patients achieved clinical success (p<0.001).
Augment Injectable Bone Graft (AIBG) is being developed as an alternative to autograft in orthopedic surgery. In clinical studies, AIBG has been evaluated as a healing adjunct to fusion in hindfoot and ankle surgeries and distal radius fractures.
BMTI is a biotechnology company specializing in the development and commercialization of clinically proven products to promote the healing of musculoskeletal injuries and diseases, including therapies for orthopedics, sports medicine and spine applications.
More about BMTI at www.biomimetics.com
AMSWA, American Software, Inc.
** According to its preliminary financial results for the fourth quarter fiscal 2012, AMSWA posted total revenues of $27.9 million, an increase of 11% year over year, and operating earnings of $4.6 million, a 26% increase compared to the same period the prior year.
AMSWA provides demand-driven supply chain management and enterprise software solutions, backed by more than 40 years of industry experience, that drive value for companies regardless of market conditions.
More about AMSWA at www.amsoftware.com
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