WellTek Subsidiary Completes Sale to U.S. Military Aligning Strategy to Penetrate $1 Billion U.S. Military Market
ORLANDO, Fla., March 22 MedX Limited, the manufacturer and global distributor of MedX®-branded medical exercise and fitness equipment and a subsidiary of WellTek Incorporated (OTC Bulletin Board: WTKN), today announced the completion of another sale to the U.S. Military. The Company intends to secure contracts with the U.S. Department of Defense to not only provide equipment, but also to provide services which will prevent and/or rehabilitate chronic back and neck problems for members of the U.S. Military.
According to a study published in November 9, 2009 Archives of Internal Medicine, a significant number of military personnel were evacuated out of Iraq and Afghanistan because of back pain. Researchers at John Hopkins University School of Medicine found that only 13 percent of service members who left their units with back pain as their primary diagnosis eventually returned to duty in the field. Aside from combat injuries sustained during battle, the return-to-duty rate for spinal pain and other musculoskeletal disorders is lower than any other disease or non-combat injury category except for psychiatric illness. Moreover, treating active duty and veteran service members suffering from severe or chronic low back pain is estimated to cost the nation approximately $1 billion each year.
Randy Lubinsky, WellTek Chairman and CEO, stated, "This is a sizable niche market for WellTek and our MedX subsidiary and one in which we are confident we can have profound economic and quality of life impact. U.S. armed forces in Iraq and Afghanistan are currently faced with carrying up to 120 pounds of backpack gear and protective body armor, sleeping on cots, marching for miles on foot, being cramped into transport vehicles for hours at a time, and/or hoisting heavy ammo and other field supplies - all causes cited for serious low back injuries. By adopting MedX Exercise Science-based training protocols as a standard component of readying troops for deployment to the Middle East, we are convinced that we can help to prevent or significantly reduce the number of war fighters who may otherwise suffer avoidable neck and back pain."
MedX is widely recognized as the definitive gold standard for treating and reducing chronic back pain and dysfunction through specific spinal strengthening. Over the last 24 years, the Universities of Florida and California at San Diego, along with various orthopedic clinics around the world, have published more than 75 articles in peer-reviewed journals and industry publications confirming MedX's ability to materially decrease chronic spine-related pain issues, restore spinal function, improve quality of life and independence, and decrease or eliminate the need for ongoing spinal care or pain management - even after multiple failed attempts at other forms of treatment. Since its market introduction in 1986, MedX exercise and rehabilitation equipment has been sold to customers in all 50 states and around the world. The medical and exercise machines can be found in hospitals, rehabilitation and wellness centers, colleges and universities, professional sports teams' training facilities, on military bases and within several state and federal government agencies.
About WellTek Incorporated
WellTek is a global health, fitness and wellness company that provides solutions to help address some of the world's most pressing and costly health challenges--obesity and chronic neck and back pain. The Company's subsidiary, MedX Limited, manufactures, markets and distributes the most advanced medical exercise equipment to the medical and fitness markets. Through its wholly owned subsidiary Pure HealthyBack, Inc., WellTek is redefining healthcare delivery by providing health plans, self-insured employer groups, and consumers with a viable non-surgical, lower cost treatment for patients who are seeking lasting relief from chronic neck and back pain. The Company also owns and operates lime Fitness, Inc., a high-end fitness and exercise studio specializing in lifestyle fitness coaching designed to facilitate life, image and mind enrichment. For more information on the Company, please visit www.WellTekinc.com.
Certain statements contained in this press release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective Company's Securities and Exchange Commission filings, that may cause actual results to materially differ from projections. Although the Company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses, expectations, representations and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the Company's ability to execute properly its business model, to raise additional capital to implement its continuing business model, the ability to attract and retain personnel - including highly qualified executives, management and operational personnel, ability to negotiate favorable future debt facilities and capital raises, and the inherent risk associated with a diversified business to achieve and maintain positive cash flow and net profitability. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.
FOR MORE INFORMATION, PLEASE CONTACT: Elite Financial Communications Group, LLC Dodi B. Handy, President & CEO (Twitter: dodihandy) Kathy Addison, VP of Elite Media Group (Twitter: kathyaddison) 407-585-1080 or via email at WTKN@efcg.net
SOURCE WellTek Incorporated
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