DULUTH, Georgia, February 2, 2017 /PRNewswire/ --
Medical Innovation Holdings, Inc. (OTC: MIHI) ("MIHI" or the "Company"), today announced that on January 13, 2017 it has entered into a Letter of Intent (LOI) with a Florida-based nutraceutical company (NEWCO). Under the agreement MIHI will acquire 100% of the assets of NEWCO in a cash and stock transaction valued anywhere from $2.5-$3.5 million. NEWCO will provide a proprietary product line with specialized formulations along with Trademark product names. Also with the acquisition the company will receive a robust customer base, existing staff and management, and certain marketing material designed to promote NEWCO's product line.
NEWCO is a nationally known research and development company recognized for its portfolio of best-in-class, physician-developed, natural health supplements designed to provide their customers with a better, healthier, and longer life. For over 16 years, NEWCO has used and continues to use the highest quality and concentration of powerful ingredients to create products that are naturally safe AND proven effective. As a socially-responsible company, they do not perform any animal testing in any of its research and development.
Arturo "Jake" Sanchez, CEO and Director, stated: "This is the first of many more acquisition agreements to come. We will use NEWCO as a platform company to acquire more supplement-based companies and add additional product lines. We are also benefiting our network of physician providers by increasing their access to readily available additional sources to treat their patients and to increase the practice's revenues. Under this agreement, we are giving the medical providers the opportunity to provide the best care for their patients by incorporating the latest advances in alternative nutraceuticals into their practice versus harmful and many times unresponsive pharma developed medicines."
About Medical Innovation Holdings, Inc.
MIHI, a Colorado-based publicly traded company, owns and operates strategically aligned health care service companies focused on the delivery of clinical virtual medicine (health) as a way of bringing quality medical care to all areas of need including rural and underdeveloped areas across the country. Through our wholly owned subsidiary, 3Point Care, we provide personalized high-tech high-touch telemedicine encounters pairing our virtual health specialty doctors with traditional primary doctors utilizing nextgen virtual health technologies in order to connect a patient with a multi-disciplinary specialty clinical healthcare practice. Through our other companies and relationships, we offer Affordable Care Organization (ACO) support, wellness and prevention, lab analysis and lab services, and remote diagnostic monitoring.
We serve a number of constituents and stakeholders interested in reducing the cost of care, enhancing the quality of care, promoting access to care, and maintaining the continuum of care.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
For more information on MIHI, please visit the Company's website at http://www.medicalinnovationholdings.com
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SOURCE Medical Innovation Holdings Inc