Med Gen Inc. Purchases Assets of Sizable Debt Settlement Firm and Adds Over $25 Million in Businesses for Sale to its Inventory

Jun 09, 2010, 08:00 ET from Med Gen Inc.

HOLBROOK, N.Y., June 9 /PRNewswire-FirstCall/ -- Med Gen Inc. (Pink Sheets: MDIN) today announced that its wholly owned subsidiary, NorthStar Business and Property Brokers, Inc. ("NorthStar") has added a group of experienced brokers to its arsenal bringing a prospective $25 million in listings under the NorthStar umbrella in the process. The move represents the largest single expansion the company has experienced since its inception.

In order to handle this unprecedented growth, Med Gen Inc. has purchased, at a sharp discount, the entire infrastructure of Gateway Debt Settlement, Inc., a well known debt settlement firm based on Long Island that is in the process of relocating to Texas. The purchase included cubicles, computers, chairs, an expandable and far superior phone and telecommunications system, which further serves to pave the way for continuous and unimpeded growth of NorthStar.

"I have been waiting to make an announcement like this for a long time. We can now begin our expansion westward and truly become a nationally recognized firm and leader in the industry," stated Raymond Barton, Med Gen's CEO.

The company plans to continue its recruiting efforts for both novice and experienced Business Brokers as well as seeking out partners and franchisees to operate branch offices nationwide.

Investors are encouraged to visit the CEO's Blog and company message board at www.medgeninc.com for future news and information regarding the company's progress.

Med Gen Inc. is a next generation holding company aimed at dominating several industries and diversifying it's holdings through acquisitions and revenue generating subsidiaries. The company currently runs NorthStar Business and Property Brokers, a wholly owned subsidiary in the Business Brokerage industry, and Global Media Online, another wholly owned subsidiary and distribution company.

Contact:

Lorin R. Streim, Esq.

Med Gen Inc.  Holbrook, NY 11741

1-877-570-1581 (ph & fax)

SOURCE Med Gen Inc.



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