SOURCE: MIT Holding, Inc.
SAVANNA, GA--(Marketwired - Aug 16, 2013) - MIT HOLDING, INC. (OTCQB: MITD) announces that it has begun negotiations with a leading South Eastern US private duty care services company. Assisting the in home needs of the elderly and other home bound medical patients, management believes the transaction will close in the next 60 days.
Walter Drakeford, Co-President MITD, states, "We have over the last several years been streamlining MIT Holding in anticipation of this initial negotiation to acquire our first company in the industry sectors that we intend to grow over the next 24 to 36 months."
MIT Holding has invested one million dollars in capital improvements into LowCountry Compounding Pharmacy. With the introduction of robotics, this division now has the growth capabilities to handle in excess of $100 million of gross annual sales of pharmaceuticals.
William Parker Co-President MITD, states, "We are looking forward to implementing our business model with this first acquisition as it pairs perfectly with our Medical Infusion Technologies division. Our in home and ambulatory infusion services, coupled with our medical equipment and services, are a natural fit for this acquisition."
Management continues to look for growth strategies which will enhance the Company's revenue streams and shareholder value.
About MIT Holding, Inc.
Through its wholly owned subsidiaries, MIT distributes wholesale pharmaceuticals in the United States and overseas, administers intravenous infusions and, 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 Dominican Republic, Haiti, Costa Rica, the Bahamas, Argentina, and Brazil. 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.
For more information, contact Mr. William Nalley, Orsay Groupe, email@example.com, phone 305-790-2688 and/or visit website www.mitholdings.com.
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements regarding beliefs, plans, expectations or intentions contain reasonable expectations, but there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.