TAMPA, Fla., April 21, 2011 /PRNewswire/ -- iMD Companies
(ICBU.PK) is pleased to announce that is has acquired an
Independent Diagnostic Testing Facility (IDTF), Optimum Mobile
Imaging LLC, which increases and diversifies the Company's
portfolio of Medical Service businesses. The acquisition was
done with cash and restricted stock and is accretive to earnings.
More information regarding OMI can be found at www.OMIAZ.com.
OMI is currently running at a $2 MM revenue rate which will more
than double our revenues. We expect significant growth to
continue in all segments of our business.
In addition, iMD Companies, Inc. (ICBU.PK) is pleased to
announce that it has filed its updated financials on time to
maintain full disclosure to the investment community.
iMD has an 8 year history of revenues and operations in
the medical health field, primarily providing diagnostic testing
services. We expect significant organic growth during 2011
from our core diagnostic business. In addition, we will
continue to seek synergistic accretive acquisition candidates
aggressively.
The Company operates on low overhead and high profit margins.
Cash for operations has been provided by management and there
is little debt on the balance sheet. We expect to be cash
flow positive in 2011. In keeping with its policy of operating
lean, iMD's current model will allow the company to complete
anticipated acquisitions, raise funds and attract a quality core
management team for future projects.
Saeb Jannoun, CEO, commented,
"with an IDTF we can now bill insurance companies directly allowing
us to develop our markets using a more efficient and profitable
approach. We are looking forward to a very profitable 2011. We
anticipate closing all pending deals soon and ramping up company
revenues at a rapid pace. The acquisition of the IDTF alone will
increase diagnostic services income significantly."
ABOUT IMD COMPANIES, INC.
iMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, engaged in the medical
diagnostics and health and fitness industries. Its primary products
and services lie in the health and fitness nutraceutical and
medical diagnostics services markets. The company further plans to
expand into the weight-loss industry.
The company delivers its medical diagnostic services on-site
participating medical clinics and physician offices. The
nutraceutical supplements, pills, bar and gels will be marketed and
distributed through participating clinics and on-line web marketing
retail methods. The company will continue to develop its
innovative marketing strategies, including the use of social
networking vehicles.
Safe Harbor Statement:
Certain statements made in this press release constitute
forward-looking statements that are based on management's
expectations, estimates, projections and assumptions. Words such as
"expects," "anticipates," "plans," "believes," "scheduled,"
"estimates" and variations of these words and similar expressions
are intended to identify forward-looking statements.
Forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
as amended. These statements are not guarantees of future
performance and involve certain risks and uncertainties, which are
difficult to predict. Therefore, actual future results and trends
may differ materially from what is forecast in forward-looking
statements due to a variety of factors. All forward-looking
statements speak only as of the date of this press release and the
company does not undertake any obligation to update or publicly
release any revisions to forward-looking statements to reflect
events, circumstances or changes in expectations after the date of
this press release.
www.imdcompanies.com
SOURCE iMD Companies, Inc.