TAMPA, Fla., Aug. 4, 2011 /PRNewswire/ -- In keeping with the company's previously announced plan to expand into the growing health and nutrition supplements, IMD Companies announces that, in a part cash part stock related party transaction, it has completed the acquisition of Botanical Sciences, Inc, a Florida corporation, to be held as a wholly owned subsidiary. Botanical has been engaged in the retail sales of health and fitness supplements since 2009. The company holds over $50,000 of retail inventory on the books as assets. The marketing plan includes on-line sales services, direct distribution through participating weight-loss centers and licensed consignment agreements with local physician offices and clinics.
The subsidiary's website is "BotanicalScience.com" and details the programs available. "This acquisition not only satisfies another target in our open letter to shareholders, but allows IMD to commence its own program to tackle the country's obesity problem," stated CEO Saeb Jannoun. "We contemplate that we will be announcing the first of our physician consignment agreements in the near future," he concluded.
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.
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SOURCE IMD Companies, Inc.