Information Architects Signs Contract to Acquire Medical Services Operation
ORLANDO, Fla., Aug. 7, 2012 /PRNewswire/ — Information Architects Corporation (OTCQB: IACH) announced today on Monday, August 6th, the company signed a contract to acquire The Miami Prevention & Kidney Center LLC. (MPKC). Founded in 2008, the centers will provide lifesaving hemodialysis to individuals diagnosed with End Stage Renal Disease (ESRD). The initial center is scheduled to begin providing dialysis services for patients in the South Florida area beginning by the end of the third quarter 2012. IACH is in negotiations for a funding commitment to open the first five centers, with plans to continue development in stages. Company estimates are that each center can generate approximately $750,000 revenue per quarter.
The management team of MPKC is extremely well-seasoned in the operation and administration of acute dialysis service centers. Management has broad experience in virtually all aspects of dialysis center operations including maintaining compliance with the Joint Commission of Accreditation on Healthcare Organization (JCAHO) and Medicare standards. This management team will remain post acquisition and will oversee the development and operations of the dialysis centers.
Nationally the number of people suffering from ESRD is expected to increase four to six percent over the next 2 years. However, the increase of individuals in South Florida suffering from ESRD is expected to rise at a much more alarming rate as this number is up to 20 percent in the past few years for South Florida’s Dade County. The sum of these factors is that the need for dialysis within the US and particularly in South Florida is increasing greatly in proportion to the rise in the prevalence of ESRD.
Commenting on this latest IACH development, Mike Ostrow, IACH’s President stated, “We are extremely pleased to be moving forward with this acquisition. The opportunity to fill a growing need in the community while at the same time producing a robust revenue stream for IACH is rewarding on many levels. This acquisition exemplifies IACH’s commitment to growing and developing the company and shareholder value and we are optimistic about other opportunities to further this growth.”
Information Architects Corp. (IACH) is a worldwide Marketing and Distribution company.
“Forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Information Architects Corporation disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies, and the purchasing activity or lack thereof by registered web mall members.
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SOURCE Information Architects Corporation