Attached files
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| 8-K - MIT Holding, Inc. | v199546_8-k.htm |
Exhibit
99.1
MIT
Holding, Inc. Announces Exclusive Distribution Agreement for Vivathermic Vials
with Vivakor, Inc.
Savannah,
Georgia,
October 13, 2010 -- 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 be identified by the use of the words "anticipates," "expects," "intends,"
"plans," "should," "could," "would," "may," "will," "believes," "estimates,"
"potential," or "continue" and variations or similar expressions. These
statements are based upon the current expectations and beliefs of management and
are subject to certain risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking statements.
These risks and uncertainties include, but are not limited to, risks and
uncertainties discussed in MIT's filings with the Securities and Exchange
Commission, which factors are incorporated herein by reference. Readers are
cautioned not to place undue reliance on any of these forward-looking
statements. MIT undertakes no obligation to update any of these forward-looking
statements to reflect events or circumstances after the date of this press
release or to reflect actual outcomes.