HUNTINGTON BEACH, Calif., June 4, 2012 (GLOBE NEWSWIRE) -- iTech Medical, Inc. (OTC:IMSU) (FWB:0IM), a company engaged in the research and commercial development of healthcare information systems and technologies, announced today the company has been upgraded to the "CURRENT INFORMATION TIER" by OTC Markets. IMSU follows the International Reporting Standard or the Alternative Reporting Standard by making its filings publicly available through the OTC Disclosure & News Service. To view these filings please go to www.otcmarkets.com/stock/IMSU/financials.
iTech Medical announced on May 23, 2012 that it had entered into a Letter of Intent under which it would acquire 100% of BIOflex Medical Magnetics. BIOflex Medical Magnetics holds the exclusive worldwide rights to the patented magnetic therapy product line, developed specifically for human medical use. BIOflex Medical Magnetics is a pioneer in the practice of medical magnetic therapy with its 25 years of market leadership. The BIOflex magnetic technology is founded on academic and clinical research demonstrating its ability to support the body's natural healing processes.
About BIOFlex Medical Magnetics
BIOFlex Medical Magnetics is engaged in the sale of the patented BIOflex magnetic therapy product line. BIOflex is the original magnet manufactured specifically and exclusively for human medical use. BIOflex is an accepted form of therapy for use on sports injuries and chronic pain conditions including tendonitis, wrist and elbow pain, sprains and strains and chronic lower back pain. BIOflex Concentric Circle Magnets have been clinically tested at a number of prestigious institutions including the University of Kentucky, University of Tennessee and the Baylor College of Medicine.
For further information, visit the BIOflex Medical Magnetic Systems website: www.bioflexmagnets.com
About iTech Medical - (OTC:IMSU) (FWB:0IM)
iTech Medical is engaged in the research and commercial development of healthcare information systems and technologies. To date, the Company has focused on developing a proprietary platform called Muscle Pattern Recognition (MPR), a unique clinical and rehabilitation tool for the analysis of muscle function.
For more information go to the iTech Medical website: www.iTechMedical.com
Forward-Looking and Cautionary Statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect management's current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as "anticipate," "believe," "estimate," "expect," "intend," "project," "plan," "outlook," and other words and terms of similar meaning.
These statements involve a number of risks and uncertainties that could cause actual results to materially differ from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: general economic conditions, acquisitions and development of new businesses, divestitures, product availability, sales volumes, pricing actions and promotional activities of our competitors, profit margins, weather, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, our ability to react to a disaster recovery situation, and the impact of labor markets and new product introductions on our overall profitability.
iTech Medical cautions that the foregoing list of important factors is not complete and assumes no obligation to update any forward-looking statements that it may make. All such forward-looking statements are current only as of the date on which such statements were made. iTech Medical, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.