TAMPA, FL, Dec. 19, 2013 /PRNewswire/ - IMD Companies, Inc. (OTC: ICBU) Board of Directors is pleased to announce plans to position the Company as a player in the fast-growing Medical Marijuana sector. IMD has been in negotiations with several potential acquisition candidates in this industry for several months.
IMD Companies President and CEO Bruce Collett stated, "We see a potential for accelerated growth in the expanding medical marijuana industry. Our Board of Directors has taken a broader view of trends in the health and wellness sector and, as a result, we have developed a strategic plan we believe will positively impact our business and our shareholders. The Company looks to make major announcements in the near term once these acquisitions have been finalized."
Cannabis has proven effective in treating various neurological diseases such as MS, ALS, Parkinson's, hypertension, and different forms of cancer in various third party laboratory studies. The medical marijuana industry was valued at $1.3 billion in 2011. Recent industry market projections have escalated to nearly $9 billion by 2016 as more states consider legalizing marijuana for medicinal purposes, or decriminalizing the use altogether.
ABOUT IMD Companies, Inc.
IMD Companies, Inc., (OTC MARKETS:ICBU) is a Florida corporation, engaged in the medical diagnostics and health and fitness industries. The company is currently positioned to be a holding company for major acquisitions in the medical industry. Its primary products and services lie in the health and fitness nutraceutical and medical diagnostics services markets. The company has also expanded into the weight-loss industry. The company delivers its medical diagnostic services on-site at 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