MIT Holding, Inc. (OTCBB: MITD) has partnered with MEVLABS, Inc., a research and development company focused on infectious diseases that afflict world health, to research certain infectious diseases that are distressing countries worldwide. As part of the agreement, MIT will provide funding for the preventive and clinical research, marketing and global licensing of products that are developed through the relationship. MEVLABS will be responsible for field and clinical research and production of samples for regulatory authorities to review. Other terms of the agreement were not disclosed.
Dr. Thomas Kollars, President and Chief Executive Officer of MEVLABS Inc., who will oversee the research, commented: “MEVLABS has made significant progress in researching the cause of global infectious diseases, and we look forward to partnering with MIT to develop products that we can bring to the market that will potentially save millions of lives. As we transition from research and development to a commercial entity, MIT’s experience will strengthen our distribution channels and provide MEVLABS the resources necessary to help combat the spread of infectious diseases.”
“Partnering with MEVLABS brings tremendous opportunity to MIT,” commented William C. Parker, Chief Executive Officer of MIT Holding. “There is clearly an unmet need to prevent the spread of infectious diseases, as these illnesses inflict millions of people throughout the world. Through our business interests overseas, MIT has secured access to the worldwide distribution of pharmaceuticals and products, and we look forward to working with the team at MEVLABS to help combat the spread of infectious diseases.”
About MEVLABS Inc.
“Developing Research in a Developing World” is the motto of MEVLABS, where their scientists have extensive international experience in public health, infectious disease, program management and biodefense research. In addition to the creativity of its scientists, rapid niche identification and R&D to provide products is a key strength of MEVLABS. MEVLABS products and technologies are sold in retail stores and used by government agencies in many parts of the world. Improving health, safety and well being of people is at the core of the team at MEVLABS.
About MIT Holding Inc.
Through its wholly owned subsidiaries, MIT distributes wholesale pharmaceuticals in the United States and overseas, administers intravenous infusions, operates ambulatory centers where therapies are administered and sells and rents home medical equipment. MIT is based in Savannah, Georgia and operates an ambulatory care center in Savannah. MIT is establishing relationships with government agencies and distributors outside the United States in order to purchase and sell pharmaceuticals internationally. MIT has initiated government contacts to obtain the necessary approvals to import pharmaceutical products into the Dominican Republic, Haiti, Costa Rica, the Bahamas, Argentina and Brazil. MIT's domestic wholesale pharmaceutical distribution is conducted through Medical Infusion Technologies, Inc., which sells pharmaceuticals to end-users and other wholesalers in the U.S. MIT plans to form a subsidiary to distribute pharmaceuticals to outside of the United States and another subsidiary for sales to institutions, such as hospitals and nursing homes. MIT provides infusion pharmacy services through its pharmacy in Savannah, Georgia. The licensed pharmacy can dispense infusible and non-infusible prescription pharmaceuticals to treat a wide range of chronic and acute health conditions. The home medical equipment division carries a wide variety of durable medical equipment and supplies for purchase or lease. The division maintains inventory or can rapidly obtain a wide variety of home medical equipment products to match almost any request.
Forward-Looking Statements
Some of the information contained in this prospectus forward-looking statements (as defined in Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities and Exchange Act of 1934 the "Exchange Act"), which mean that they relate to events or transactions that have not yet occurred, our expectations or estimates for our future operations, our growth strategies or business plans or other facts that have not yet occurred. These statements can be identified by the use of forward-looking terminology such as "might," "may," "could," "expect," "anticipate," "estimate," "likely," "intend," "believe," or "continue" or the negative thereof or other variations thereon or comparable terminology. The above risk factors contain discussions of important factors that should be considered by prospective investors for their potential impact on forward-looking statements included in this prospectus. These important factors, among others, may cause actual results to differ materially and adversely from the results expressed or implied by the forward-looking statements. We caution investors that these discussions of important risks and uncertainties are not exclusive, and our business may be subject to other risks and uncertainties, which are not detailed there.
Investors are cautioned not to place undue reliance on our forward-looking statements. We make forward-looking statements as of the date on which Prospectus is filed with the SEC, and we assume no obligation to update the forward-looking statements after the date hereof whether as a result of new information or events, changed circumstances, or otherwise, except as required by law.