Please check the news out, you would know what it's going to happen.
The company's managment targets $10 with earning 0.50 cents/share within next 12 months. Also they develop a strategy against any illeagal shorting. More, no S Regulation ever!!!
I am interested in the company, because I did my own research and believe in their potential. I am a medical professinal. I know they are conducting the most profitable section in entire medical community.
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Company Press Release
Medical Industries of America Inc. Signs Letter of Intent to Acquire Care America
BOYNTON BEACH, Fla.--(BW HealthWire)--Aug. 21, 1997--Medical Industries of America Inc. (NASDAQ:MIOA) announced Thursday that it has entered into a letter of intent to acquire Care America Integrated Healthcare Services Inc., a Florida-based private corporation which provides comprehensive home healthcare services to patients in the Central Florida marketplace, formulary management programs, and ``closed door'' pharmaceutical services.
Similar in structure to the recently announced acquisition of Pain Rehabilitation Network, the terms and conditions of this acquisition provide for an ``earn-out'' financing package, whereby Care
America will receive preferred shares convertible into a maximum of 500,000 shares of MIOA common stock upon it successfully achieving predetermined benchmarks in pre-tax profits over the next two years.
Company Press Release
Medical Industries of America Inc. Signs Letter of
Intent to Acquire Pain Rehabilitation Network
BOYNTON BEACH, Fla.--(BW HealthWire)--Aug. 18, 1997--Medical Industries of America Inc. (NASDAQ:MIOA) announced Monday that it has entered into a letter of intent to acquire PRN of North Carolina, d/b/a Pain Rehabilitation Network (PRN), a Florida-based private corporation operating 10 pain management centers in North Carolina and one in South Carolina.
The terms and conditions of the acquisition provide for an ``earn-out'' financing package, whereby PRN shall be entitled to receive up to one million Rule 144 shares of MIOA common stock upon it
successfully achieving $14 million in pre-tax profits over the next three years.
Upon completion of the acquisition, expected on or before Sept. 2, 1997, PRN will become a wholly owned subsidiary of Medical Industries of America. Plans to aggressively expand PRN are underway. Currently, PRN is tracking revenues for 1997 of approximately $700,000 with net
income of approximately $200,000.
According to Paul Pershes, president and COO of Medical Industries: ``Given our well-defined strategy to grow Medical Industries through intelligent targeting and acquisition of strictly profitable
medical-related businesses, the decision to acquire PRN was not a difficult one to make. In 1996, pain and rehabilitation services in the United States represented 28% of the estimated $588 billion
spent on health care -- or over $165 billion. In fact, we've learned that pain is the second most prevalent motive for seeking medical treatment behind the common cold. Through PRN and our
growing network of physician practices, Medical Industries intends to aggressively expand its offering of medical and diagnostic services to the medical community while remaining committed to consistently delivering our shareholders enhanced earnings as we continue to grow the company.''
Pain Rehabilitation Network specializes in medical planning, design, management, and consulting services to the medial industry. Headquartered in Maitland, Fla., the company has developed a
proprietary program for pain management and the rehabilitation of muscular dysfunctions. Each PRN center contains state-of-the-art, patent-protected medical equipment which meets all FDA
requirements -- most of which is privately labeled for PRN. PRN shall continue its commitment to ongoing product research and development in the areas of new and improved protocols, more technologically advanced equipment, and refinement of its comprehensive corporate support
program consisting of telemarketing, an electronic appointment and referral system, mass media advertising, billing assistance, patient education programs and several sophisticated proprietary
medical and computer software packages.
James |
