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InAmerica Cancels Acquisition of Canadian Medical Research Associates


Phoenix, AZ  -  InAmerica Corporation (NASDAQ BB: INAO), a turnaround specialty firm, announced today that it has cancelled an agreement to acquire the holdings of Canadian Medical Research Associates, Inc., a privately-held Canadian corporation. The transaction was subject to obtaining adequate financing for the transaction and a difficulty arose in the variance between the U.S. and Canadian Dollar exchange rate.


CMRA is a Montreal-based investment company owned exclusively by a group of Canadian physicians.


InAmerica is a diversified holding company that specializes in developing leading edge innovative technologies and the acquisition, reorganization and turnaround of distressed businesses that retain dramatic potential once a recovery is completed.  The company typically seeks to divest itself of the revived businesses through spin-off or outright sale to a company with a strategic need and fit.


Press Contacts:

C. Gus Cristo,

CEO

InAmerica

  1. (918)622-3300


Matthew R. Gould,

President & COO

InAmerica

(972) 239-9282