SOURCE: Wellstar International, Inc.

Wellstar International, Inc.

March 04, 2009 17:28 ET

Wellstar International, Inc. Signs LOI for up to $1 Million in Funding

HOLLAND, OH--(Marketwire - March 4, 2009) - Wellstar International, Inc. (OTCBB: WLSI), a provider of specialized diagnostic software and equipment, announced today that the Company has signed a "Letter of Intent" (LOI) with Fairhills Capital for an equity funding of up to $1 million. Final details and contract for the financing are still under discussion. The financing will be used to implement a special leasing program in support of Wellstar's wholly owned subsidiary Trillennium Medical Imaging's launch of its thermal imaging system. The Company's thermal imaging system, which detects early signs of pressure ulcers, will be marketed to long-term care (LTC) facilities in the U.S. with this special leasing program as an option. The lease program allows the systems to be more affordable and essentially a "must-have" for LTC facilities that are seeking to curtail potential liabilities and receive a higher rating from the Centers for Medicare & Medicaid Services (CMS) under the agency's "pay for performance" standards. These standards by the CMS, which will soon be effective, will support better care coordination for patients with chronic illnesses among healthcare service facilities.

Wellstar estimates revenues within the first 12 months of implementation to be in excess of $16 million, for 2010 revenues to be in excess of $69 million, and a projection of $133 million in 2011. The Company also anticipates being cash flow positive this fiscal year. The Company is anticipating the installation of at least 300 FDA approved thermal imaging systems per month, following the first 6 months of initial roll-out, through 2010. That number will increase to 400 per month by 2011. There are nearly 16,000 LTC facilities in the United States, and a pending need for more with an aging population that is increasing in numbers year after year.

Fairhills Capital is a private equity firm that invests capital into companies in the emerging markets. The firm pursues investment opportunities in small-cap companies that have a strong management team and the ability to implement their business plan. Fairhills Capital has invested in over 50 public and private companies in various sectors including oil and gas, communication, arts and entertainment, services and healthcare / medical products.

Wellstar's CEO, John Antonio, stated: "We are pleased that Fairhills Capital shares our excitement and eagerness to begin rolling out our thermal imaging systems. The epidemic of bed sores continues to rise and we anticipate the demand for these systems among just the long-term care facilities to be tremendous. We have an enormous and largely untouched market to go after with our revolutionary system. With early detection of this very serious epidemic, we have the ability to help save and extend many lives."


Wellstar International, Inc., through its wholly owned operating subsidiary Trillenium Medical Imaging, Inc. (TMI), is poised to become a leading diagnostic company in the health care industry. TMI has developed and is marketing fully calibrated and functional, thermal imaging systems that utilize state-of-the-art infrared technologies and proprietary software to accurately and cost-effectively measure physiological changes in the human body. More information on the Company and its unique diagnostic software and product line is available on Wellstar's corporate Website by visiting:


This press release contains statements, which may constitute 'forward-looking statements' within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. Specific forward-looking statements in this release include but are not limited to Wellstar's assertion that it estimates revenues within the first 12 months of implementation to be in excess of $16 million, for 2010 revenues to be in excess of $69 million, and a projection of $133 million in 2011, as well as Wellstar's statement that it anticipates being cash flow positive this fiscal year. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

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