SOURCE: Metiscan, Inc.

Metiscan, Inc.

October 29, 2009 10:30 ET

President & CEO Discusses Metiscan's Accomplishments and Challenges for 2009 YTD

Letter to MTIZ Shareholders Available at

DALLAS, TX--(Marketwire - October 29, 2009) - Metiscan, Inc. (PINKSHEETS: MTIZ), a holding company focused on growing its organization by making key acquisitions and developing companies and emerging technologies, announced today that Metiscan's President & CEO has released a letter to its shareholders discussing Metiscan's accomplishments and challenges for 2009 year-to-date. The letter discusses topics of interest to its shareholders including its financial accomplishments, a detailed look at its capital structure, its recent equity investment, challenges and tough decisions, and what's next for the Company.

"I believe this letter will resonate well with our shareholders and those interested in Metiscan," commented Bryan A. Scott, President & CEO of Metiscan, Inc. "It provides insight and transparency into the Company's revenues and EBITDA, an update of our capital structure and our recent $7.3M equity investment, the accomplishments of our operating subsidiaries -- Schuylkill Open MRI, FirstView EHR, Taptopia, and Shoreline, and the tough decision we recently had to make for our only non-operating subsidiary, Metiscan-CC, which resulted in a positive result -- the reduction of approximately $3.6M in liabilities of Metiscan's consolidated balance sheet."

Mr. Scott continued, "I feel solid about how we have persisted and where we are headed. Our team has been steadfast; we have been successful in generating revenues, raising capital, and readying new technologies and services for the market -- and in our current economy. We have continued working towards growth through acquisition and deployment of new technologies and services. I believe our shareholders will be pleased with the partnerships we are cultivating, joint ventures we are working to secure, and our overall financial accomplishments."

A copy of the Letter From the President & CEO of Metiscan to its shareholders is located on the Company's website at

Management is currently preparing its Q3 financial statements for disclosure on Pink Sheets. The company is planning to disclose these on or before November 15th, 2009.

About Metiscan, Inc.

Metiscan, Inc. is a holding company focused on growing its organization by making key acquisitions and developing companies and emerging technologies. Previously, Metiscan had been focused on healthcare related businesses and is currently pursuing acquisitions and opportunities related to healthcare and non-healthcare products and services.

Metiscan operates FirstView EHR, Inc., a wholly owned subsidiary, that provides end-to-end IT services for diagnostic imaging facilities including web based electronic healthcare records (EHR), workflow efficiency, PACS administration, long-term archiving, professional IT services and strategic consulting. Metiscan operates Schuylkill Open MRI, Inc., a majority owned subsidiary that is an independent diagnostic testing facility (IDTF) providing Magnetic Resonance Imaging (MRI) services. Metiscan also operates Taptopia, Inc., a wholly owned subsidiary that provides design and development services for Smartphone platforms. Metiscan also operates Shoreline Employment Services, Inc., a wholly owned subsidiary that provides employment services and benefits to all of Metiscan's subsidiaries and intends to provide such services to third parties in the future.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports filed with Pink Sheets.

Contact Information

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