TAMPA, Fla., Feb. 8, 2011 /PRNewswire/ -- In the Third Quarter of 2010, The Board of Directors of International Coastal Biofuels (OTC MARKETS: ICBU) has elected to change the company name to iMD Companies, Inc. In addition, a new management team will take control of ICBU with the objective of propelling the company into the health and wellness arena. The new management has opted to alter the basic structure of the firm to that of a holding company. The new structure has the company looking for promising acquisitions in the healthcare industry and other related fields. Saeb Jannoun has been elected Chairman of the Board of Directors as well as Chief Executive Officer. Bruce Collett has been named Vice President and to the Board of Directors.
iMD's management will be led by serial entrepreneurs who intend to make iMD a serious player in their target areas. Management's purpose moving forward is to acquire, develop and group, promising entities under one roof, providing them with the collective power afforded by their joint assets and economies of scale. This strategy will prove to be a profitable and financially sound platform for iMD's success.
As a first step, iMD has completed the acquisition of Integrated Medical Diagnostics, Inc. Integrated has been performing ultrasound image analysis for over eight years using a proprietary measurement and reporting system. The company has been producing solid revenues for several years. Using a skilled team of technicians, Integrated has developed the PCI Heartscan report. This proprietary report measures arterial lining thickness as well as arterial plaque, providing health care practitioners with a useful tool in the early detection of cardiovascular disease.
As a plus, Integrated has continued to compile a database using several statistical markers from the over 40,000 studies it has conducted. This growing database will prove to be of great value when key data is extracted, not to mention the market value of the data itself.
The company's reorganization was approved by the Financial Industry Regulatory Association (FINRA) effective October 12, 2010. The company was then approved and cleared the underwriting requirements under the Depository Trust & Clearing Corporation (DTCC) effective October 22, 2010.
The company has now been upgraded to fully compliant on the OTC Markets, Pinksheets Quotation Service. "New management plans to announce its physical 2011 aggressive growth and expansion plans shortly" stated Jannoun. "We plan to state our goals clearly and concisely, and lay out a specific road map on how we plan to accomplish each and every goal, using the newest and most innovative marketing strategies created in the marketplace in the recent years. Our focus will always be on growth internally and increasing shareholder value externally," Jannoun concluded.
ABOUT IMD COMPANIES, INC.
IMD Companies, Inc., (OTC MARKETS:ICBU) is a Florida corporation, engaged in the medical diagnostics and health and fitness industries. Its primary products and services lie in the health and fitness nutraceutical and medical diagnostics services markets. The company further plans to expand into the weight-loss industry. The company delivers its medical diagnostic services on-site participating medical clinics and physician offices. The nutraceutical supplements, pills, bar and gels will be marketed and distributed through participating clinics and on-line web marketing retail methods. The company will continue to develop its innovative marketing strategies, including the use of social networking vehicles.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
|SOURCE IMD Companies, Inc.|
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