NEW YORK, NY — (MARKET WIRE) — 11/08/10 — Healthnostics, Inc. (PINKSHEETS: HNSS) announced the sale of its subsidiary, MedBioWeb Corp. , to a consortium of investors for cash and publicly-traded securities valued at $2 million .
Healthnostics president, Alan Grofe , who will continue on with MedBioWeb Corp. , is being succeeded at Healthnostics on an interim basis by Michael Black , the Company’s current chief financial officer.
The sale of MedBioWeb Corp. includes MedGuardian, a patient care monitoring and risk management system for hospitals, MedBioWorld.com, a professional medical and biotechnology directory, and FamilyMedicalNet.com, a consumer healthcare information portal.
This sale facilitates the Company’s transition from on-line medical information to the lucrative businesses of on-line medical product distribution, conventional distribution, medical product manufacturing and the engineering and development of manufacturing machines and systems.