MIT Holding, Inc. Announces Exclusive Distribution Agreement for Vivathermic Vials with Vivakor, Inc.
October 20 2010 - 4:33PM
Business Wire
MIT Holding, Inc. (OTCBB:MITD) announces today that it has
entered into an exclusive licensing agreement with Vivakor, Inc.
(OTCBB:VIVK) to manage the distribution of Vivakor’s patented
Vivathermic Vials worldwide. MIT Holding, Inc.’s Co-Chairman and
Co-President, Walter H.C. Drakeford issued the following statement,
“MIT Holding, Inc. continues forward with its objective and mission
of improving the quality of life. Vivathermic technology is a piece
of that objective and adds to our portfolio of technologies as we
continue to build shareholder value while improving life.” MIT’s
Co-Chairman and Co-President, William Parker adds, “the agreement
with Vivakor and the Vivathermic Vials will be a great compliment
to MIT’s list of products, which will service the medical community
including MIT’s family of companies.”
Vivakor’s Chairman Matt Nicosia adds the following statement to
the news, ”This is a great step forward in the distribution of
Vivakor technology. Our Vivathermic vials are the most sensitive
vials on the market for biological transportation and storage.
Vivathermic vials are used in all aspects of biological
preservation including the most sensitive stem cells. We envision
the demand for Vivathermic vials will continue to increase over the
next five years as these vials could become the standard for all
biological storage and transportation. Vivakor searched for a
distribution partner that shared its vision, of extending the
length and quality of life, which would increase the value of the
technology and value to shareholders. This distribution agreement
with MIT Holdings, Inc. creates a distribution opportunity and a
long term commercialization partner for Vivakor Technologies.”
About MIT Holding, Inc.
MIT Holding, Inc. (MIT) is a holding company. The Company,
through its three wholly owned subsidiaries, distributes wholesale
pharmaceuticals, administers intravenous infusions, operates an
ambulatory center where therapies are administered, and sells and
rents home medical equipment. The Company’s subsidiaries include
MIT International Distribution, Inc. (MIT International), Medical
Infusion Technologies, Inc. (Infusion), and MIT Ambulatory Care
Center, Inc. (Ambulatory). The Company has four principal operating
segments: Medical Infusion Technologies (MIT), MIT Wholesale
(Wholesale), Durable Medical Equipment (DME) and MIT Ambulatory
Care Center (Ambulatory Care). More information can be found at
www.mitholdinginc.com.
About Vivakor, Inc.
Vivakor™ is a biomedical/biotechnology company with
transdisciplinary research that develops and acquires products in
the fields of molecular medicine, electro-optics, biological
handling and natural and formulary compounds that extend or improve
life. More information can be found about Vivakor at
www.vivakor.com.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements,
including, but not limited to, statements regarding MIT's products
and their related market potential. Forward-looking statements may
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expectations and beliefs of management and are subject to certain
risks and uncertainties that could cause actual results to differ
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risks and uncertainties discussed in MIT's filings with the
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herein by reference. Readers are cautioned not to place undue
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