KINGWOOD, Texas, Feb. 16 /PRNewswire-FirstCall/ -- International Merchant Advisors, Inc. (Pink Sheets: IMAI.PK) www.imaiinc.com announced today that the company has signed a letter of intent to purchase a minority interest in Assured Pharmacy, Inc. (Pink Sheets: APHY.PK) www.assuredpharmacyinc.com, a retail pharmaceutical operation that is focused on selling prescription medications in the chronic pain management medical sector. Assured Pharmacy has gross revenues in eight figures, and has experienced management and staff to accelerate the IMAI plan to open Wellness Centers in selected spots throughout the USA. Corporate Strategies' CEO Tim Connolly is advising the companies on the transaction and is developing the structure of the proposed joint venture.
IMAI CEO Mel Roseman said, "Assuming both parties elect to move forward on our LOI, we will enter the healthcare services sector in a jointly owned project for opening Wellness Centers with Assured Pharmacy, with IMAI retaining 51% of the equity and operating control of the venture, and Assured owning 49% and bringing their expertise in the traditional chronic pain treatment modality. IMAI will bring the required capital and alternative, natural treatment medical and legal professionals to the venture. Medicare/Medicaid and healthcare reform from both the Obama Administration and Congress will continue to pressure traditional medical clinics, and we intend to bring not only lower cost, natural treatment methodology to communities with our MD supervised Wellness Centers, but we will introduce medical marijuana as a natural pain reliever in our Wellness Centers located in those states that allow its legal operation."
Assured Pharmacy CEO Robert Del Vecchio added, "The concept of Wellness Centers offering lower cost alternatives for both traditional therapeutic courses of treatment as well as natural, effective pain treatment products such as medical marijuana is intriguing to us, and we look forward to carefully researching the medical, legal, and practical issues related to opening these new Wellness Centers, and hope to complete our due diligence to pursue this venture with IMAI as quickly as possible."
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report.
SOURCE International Merchant Advisors, Inc.
|SOURCE International Merchant Advisors, Inc.|
Copyright©2010 PR Newswire.
All rights reserved