IMSU News .15 ITECH MEDICAL INC Symbol U : IMSU

IMSU News .15 ITECH MEDICAL INC
Symbol U : IMSU
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BIOflex Medical Magnetics Announces Initiative With Consumer Products Group

2012-06-07 10:44 ET - News Release

FORT LAUDERDALE, Fla., June 7, 2012 (GLOBE NEWSWIRE) -- BIOflex Medical Magnetics, Inc. ("BMMI") and iTech Medical, Inc. (OTC:IMSU) (FWB:0IM) announced today a new retail initiative with Life Wear Technologies, Inc., an emerging health support and sports medicine manufacturer, to provide the BIOflex medical magnetic technology to the retail trade. Initial distribution has begun with retailers such as Walmart Canada and Meijer to provide magnetic therapy ankle, wrist and back supports.

Charles Zablotsky, President of BIOflex Medical Magnetics, said "We are very pleased to be working with Life Wear Technologies on the distribution of our products. Their exposure to the sports medicine and retail healthcare markets provides us with an excellent distribution channel for many of our products." The Company reported that Life Wear Technologies has already received several orders from Walmart Canada for a healthcare product that incorporates BMMI's proprietary Flex Pad magnet. "We anticipate further growth based on this exciting relationship with Life Wear Technologies," said Mr. Zablotsky.

BIOflex said that the Flex Pad is one of its biggest sellers and is currently used by thousands of people with chronic back pain. More than 100 million Americans suffer from chronic pain at a cost of around $600 billion a year in medical treatments and lost productivity, according to a report from the Institute of Medicine (IOM).

BIOflex Medical Magnetics is a pioneer in the practice of medical magnetic therapy with its 25 years of market leadership. The BIOflex magnetic technology is founded on academic and clinical research demonstrating its ability to support the body's natural healing processes. BIOflex Medical Magnetics announced on May 23, 2012 that it had entered into a Letter of Intent under which iTech Medical (OTC:IMSU) (FWB:0IM) would acquire 100% of BMMI. BIOflex Medical Magnetics holds the exclusive worldwide rights to the patented magnetic therapy product line, developed specifically for