TAMPA, Fla., April 21, 2011 /PRNewswire/ — iMD Companies
(ICBU.PK) is pleased to announce that is has acquired an
Independent Diagnostic Testing Facility (IDTF), Optimum Mobile
Imaging LLC, which increases and diversifies the Company’s
portfolio of Medical Service businesses. The acquisition was
done with cash and restricted stock and is accretive to earnings.
More information regarding OMI can be found at www.OMIAZ.com. OMI is
currently running at a $2 MM revenue rate which will
more than double our revenues. We expect significant growth
to continue in all segments of our business.
In addition, iMD Companies, Inc. (ICBU.PK) is pleased to
announce that it has filed its updated financials on time to
maintain full disclosure to the investment community.
iMD has an 8 year history of revenues and operations in
the medical health field, primarily providing diagnostic testing
services. We expect significant organic growth during 2011
from our core diagnostic business. In addition, we will
continue to seek synergistic accretive acquisition candidates
The Company operates on low overhead and high profit margins.
Cash for operations has been provided by management and there
is little debt on the balance sheet. We expect to be cash
flow positive in 2011. In keeping with its policy of operating
lean, iMD’s current model will allow the company to complete
anticipated acquisitions, raise funds and attract a quality core
management team for future projects.
Saeb Jannoun, CEO, commented, “with an IDTF we can now bill
insurance companies directly allowing us to develop our markets
using a more efficient and profitable approach. We are looking
forward to a very profitable 2011. We anticipate closing all
pending deals soon and ramping up company revenues at a rapid pace.
The acquisition of the IDTF alone will increase diagnostic