SOURCE: MIT Holding, Inc.

MIT Holding, Inc.

August 25, 2014 10:00 ET

MIT Holding, Inc. (MITD) Announces 2nd Quarter Financial Results

Company Posts First Quarterly Profit in Six Years

SAVANNA, GA--(Marketwired - Aug 25, 2014) - MIT Holding, Inc. (OTCQB: MITD) a health care services company announced Friday, August 22, 2014, its 2nd quarter 2014 financial results, with a net profit of $20,892. This is a major milestone in the Company's evolution as it is the first quarterly profit for the Company in six years. 

This is a net turnaround of $360,949 from the same quarter in 2013 and a net turnaround of $688,953 from the same 6 months of 2013. Since the completion of the re-organization of the company and requirements of 32% minimum net profits for all subsidiaries, MIT Holding, Inc., has seen income from activities increase 96.2% for the first six months of 2014 versus the first six months of 2013.

Walter Drakeford, President of MIT Holding, stated, "The swing to profitability validates the Company's business model and our approach to the ever changing 'Health Care Act' and health services industry. The Company having turned profitable is a major success, and we look forward to building on this over the coming months and years."

Mr. Drakeford went on to say, "This success is a direct result of an attitude and approach of showing 'genuine care,' for our patients. Our goal is a stress free recovery after a medical event, allowing you to direct all your energy's into recovering."

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About MIT Holding, Inc.:

Through its wholly owned subsidiaries, MIT distributes wholesale pharmaceuticals in the United States, administers intravenous infusions in Georgia, operates ambulatory centers where therapies are administered and sells and rents home medical equipment. MIT has initiated government contacts to obtain the necessary approvals to import pharmaceutical products into the Americas. MIT's domestic wholesale pharmaceutical distribution is conducted through Medical Infusion Technologies, Inc., which sells pharmaceuticals to end-users and other wholesalers in the U.S.

Forward-Looking Statements:

This news release contains "forward-looking statements" as defined in Section 27A of United States Securities Act of 1933 and Section 21E of Securities Exchange Act of 1934. Forward-looking statements regarding beliefs, plans, expectations or intentions contain reasonable expectations, there can be no assurance that such, beliefs, plans, expectations, intentions will prove accurate.

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