FREEHOLD, NJ, March 12, 2018 (GLOBE NEWSWIRE) -- MEDIFIRST SOLUTIONS, INC. (OTC: MFST) (the “Company” or “Medifirst”), a provider of innovative laser technology with its FDA 510(k) cleared Infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device, is pleased to announce a distribution update.
Medifirst recently announced that it was in negotiations to bring its FDA cleared Time Machine Laser to the China Market. As a result of its recent addition of Life Science Quest, a medical device business development consulting firm, and the efforts and expertise of its founder Ruobing Xia, Medifirst met with a very prominent China-based medical organization to initiate negotiations for a business venture that will involve exclusive rights to sell the Time Machine Laser for the entire country of China.
Medifirst is pleased to announce that it has signed a non-binding Letter of Intent with Beijing Long Tan Lake Sports Industry (BLTS) and Investment Development LLC based in Beijing, China for a five-year exclusive distribution agreement, including a 10,000 unit order for the first year of the agreement. To maintain exclusive rights for China, BLTS will be required to maintain a minimum unit order for the duration of the agreement. BLTS has agreed to register and complete all necessary filing for the CFDA (Chinese FDA) necessary to initiate sales for a medical device in China. While no assurances can be made, both parties have agreed to continue the process of due diligence and Medifirst hopes to complete a definitive agreement in the upcoming days or weeks at which time the Company will release further details.
Founded in July 2007, Beijing Long Tan Lake Sports Industry and Investment Development LLC. established an industry alliance between the sports industry and the medical industry. BLTS provided platforms, services, and assurances for collaborations between the two industries, in compliance with government policies. In collaboration with the local government, BLTS also founded Beijing Long Tan Lake Sports Industry Park in 2008. The industry park successfully merged into Zhongguancun Dongcheng Science Park by the Dongcheng district governments in 2012. The park has attracted over 2,000 registered enterprises, becoming the center of the sports and medical industry. BLTS has continued to establish collaborations with a growing network of major medical institutions including: Peking University Hospital, Peking University Third Hospital, 301 Hospital, China- Japan Friendship Hospital, An Ding Hospital, Guang’anmen Hospital, Beijing Jishuitan Hospital, Liaoning Medical University, Chongqing Medical University, Xi'an Jiaotong University Hospital. “We hope to introduce innovative medical devices to the Chinese market as part of our business expansion to establish a strong foundation in future developments in the medical industry,” said Mr. Jiang, the CEO of BLTS.
Medifirst anticipates further announcements in the upcoming days and weeks on additional company developments.
About Medifirst Solutions, Inc.
Medifirst Solutions, Inc., in response to its Premarket Notification 510(k) submission for “The Time Machine” Series Laser, received clearance from the U.S. Food and Drug Administration (“FDA”) to market its infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device. The Time Machine Series Lasers Model TTML-8102000 - 810/830nm is intended for use in temporary relief of minor muscle and joint pain, stiffness, minor arthritis pain, muscle spasm, temporary increase in local blood circulation and temporary relaxation of muscles by means of topical elevated tissue temperature from infrared spectral emissions. The hand-held laser device, with pin-point accuracy, often gives patients immediate results with no redness, swelling or down-time. This unique laser device offers medical professionals an affordable and effective tool to enhance their treatment protocols for their patients and provide new revenue streams for their practice. The laser division will be operated out of Medifirst’s wholly owned subsidiary, Medical Lasers Manufacturer. Visit www.medifirstsolutions.com for more information. Follow on Twitter @Medi_First and for Facebook visit Medifirst Solutions.
Forward-Looking Statements:
The statements in this press release that relate to the company’s expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.