Exhibit 99.1

For Immediate Release

Oracle Healthcare Acquisition Corp.--Terminates Letter of Intent for Business
Combination

GREENWICH, Conn., Oct. 22 /PRNewswire-FirstCall/ -- Oracle Healthcare
Acquisition Corp. (the "Company") (OTC Bulletin Board: OHAQ) announced today
that it has terminated the letter of intent with a company for a potential
business combination, which it entered into on September 8, 2007. Pursuant to
the provisions of the Company's Amended and Restated Certificate of
Incorporation, the Company will liquidate as promptly as practicable, unless
negotiations in respect of this transaction are recommenced.

Forward Looking Statements:

This press release contains includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned
not to place undue reliance on any such forward-looking statements, each of
which speaks only as of the date made. Such statements are subject to certain
risks and uncertainties which are disclosed in the Company's SEC reports,
including the Form 10-K for the year ended December 31, 2006, the Form 10-Q for
the period ended June 30, 2007 and the Form 10-Q for the period ended March 31,
2007.


Contact:  President and Chief Operating Officer
          Oracle Healthcare Acquisition Corp.
          (203) 862-7900