ORLANDO, Fla., Nov. 11 /PRNewswire-FirstCall/ -- WellTek/MedX Group, health, fitness and wellness companies, today announced that it has completed a major corporate reorganization to facilitate becoming an SEC reporting company.
On November 11, 2009, MedX Systems, Inc. merged into a wholly owned subsidiary of an SEC reporting public company, previously named Pharmacity Corporation, and subsequently changed its name to WellTek Incorporated. As a result of the merger, there are 85,783,828 shares of common stock outstanding, including approximately 70,000,000 shares issued in the merger. In addition, there are outstanding options and warrants exercisable into an aggregate of 8,660,411 shares of WellTek Incorporated.
"As a consequence of this transaction, we now have a viable, trading market for our common stock. Moreover, management is now free to focus exclusively on executing our growth strategies and building long term value for our trusted shareholders," stated Randy Lubinsky, Chairman and CEO.
For more detailed information, please refer to the Form 8-K to be filed with the U.S. Securities and Exchange Commission. To view, please visit www.sec.gov.
About WellTek Incorporated
WellTek is a global health, fitness and wellness company that provides solutions to help address some of the world's most pressing and costly health challenges--obesity and chronic neck and back pain. The Company's subsidiary, MedX Limited, manufactures, markets and distributes the most advanced medical exercise equipment to the medical and fitness markets. Through its wholly owned subsidiary Pure HealthyBack, Inc., WellTek is redefining healthcare delivery by providing health plans, self-insured employer groups, and consumers with a viable non-surgical, lower cost treatment for patients who are seeking lasting relief from chronic neck and back pain. The Comp
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