iMedicor Announces Two Acquisitions, Four Corporate Appointments

NANUET, N.Y., Feb. 19, 2013 /PRNewswire/ -- iMedicor (OTCBB: VMCI) today announced a series of strategic acquisitions and additions to its management, technology and sales teams. Effective today, the company acquired HITS Consulting Group LLC (HITS CG), a New York City-based firm providing Meaningful Use and Electronic Health Records (EHR) IT consulting services to leading healthcare facilities. HITS CG will strengthen iMedicor's IT expertise and broaden the revenue base of its Meaningful Use consulting division, particularly in New Jersey, where, after iMedicor, HITS CG is the leading provider of Meaningful Use consulting services to that state's nation-leading Health Information Technology Extension Center (HITEC) project.

Mr. Henry Denis, who served as chief executive officer at HITS CG since 2009, and who led that company's implementation of EHR systems at over 300 healthcare facilities and organizations in New Jersey, was appointed president of iMedicor, a position that had been vacant for the past two years.  Mr. Denis will be responsible for the company's software development, Meaningful Use consulting program and overall IT and sales efforts. Prior to joining HITS CG, Mr. Denis served in executive-level IT positions at Epiq eDiscovery Solutions, a $600 million legal services firm; Knight Capital Group, a $1 billion financial services organization; and Lava Trading, a $100 million financial services company.

iMedicor added that, effective today, it has also acquired ClariDIS Corporation, a data mining and data aggregation business based in Cape Cod, Massachusetts.  ClariDIS will strengthen the IT and security encryption capabilities of iMedicor's Social Health Information Exchange (HIE) Version 3.0, the upgraded version of the first healthcare industry information exchange platform to offer secure messaging services within a social/professional networking architecture.

Mr. Joshua Brimdyr, the founder, president and chief technical officer of ClariDIS since 2004, and an IT specialist with 23 years healthcare industry experience, has been appointed chief operating officer of iMedicor, replacing Mr. John Walber, who had held that position for the preceding 18 months. Mr. Brimdyr will be responsible for the company's day-to-day operations, and oversight of software development and internal systems for iMedicor's Social HIE 3.0.  Prior to founding ClariDIS, Mr. Brimdyr served as president of Workplace Consulting Group, Inc., a provider of technical support services to medical and dental practices implementing EHR systems.

In addition, iMedicor announced two corporate appointments relating to its January 24^th acquisition of iPenMD, a digital pen system that converts a doctor's handwritten patient notes into digital text and places it into the patient's EHR file. Mr. Kevin Giles, who had served as chief technical officer at iPenMD, will retain the same position with iMedicor, responsible for software development. Ms. Stacey Trottier, who served as vice president of sales for iPenMD, will retain this position with iMedicor, responsible for marketing the system to dental and medical professionals as well as healthcare facilities.

iMedicor has also promoted Mr. Robert Millar to the position of chief information officer and senior vice president of business development. Mr. Millar has been with the company since 2002 and has served as vice president of sales and business development for the past five years. Mr. Millar will be involved in major account acquisition and rolling out the national launch of iMedicor's Meaningful Use consulting project focused on servicing physicians and dentists. Mr. Millar will assist in developing new lines of business that supplement and support the core business of secure communication and productivity to the healthcare community.

Mr. Fred Zolla, the CEO of iMedicor, said the new acquisitions and executive appointments will "significantly strengthen" the company's Meaningful Use, IT, management, and sales/marketing capabilities, enabling it to "pursue and capture a greatly expanded range of business opportunities in the healthcare communications space."

These opportunities, he added, would likely translate into "significantly augmented revenue" beginning in the second quarter of 2013.

About iMedicor

iMedicor (http://www.imedicor.com/) is a provider of comprehensive healthcare communications solutions that enable physicians and other healthcare professionals to optimize the use of technology in managing their practices and participating in the federally-mandated transition from paper to Electronic Health Records (EHRs). Through two primary services, iMedicor offers low-cost, easy-to-adopt solutions that can be tailored to the needs of individual practices or larger organizations: 

• SocialHIE, the first information exchange platform to offer secure messaging services within a social/professional networking architecture. SocialHIE enables any physician, clinic or hospital to transmit and share information such as patient data, test results and images within a secure, HIPAA-compliant environment – and even between disparate EHR systems. SocialHIE also offers additional advantages such as community development, the ability to create private healthcare information exchange networks with patient specific information, and access to a vast catalog of accredited continuing medical education (CME) programs.
• Meaningful Use Consulting Services. iMedicor is qualified to assist both primary care and specialist practices with EHR adoption and to help them attain Meaningful Use and receive incentive payments from the Federal Government for their compliance.
  For investor information, please go to http://www.ir-site.com/imedicor/default.asp .

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties.

SOURCE iMedicor