Medical Technologies Unlimited Secures Growth Capital from DAS Family Holdings: Deal Will Provide up to $25 Million in Working Capital for Med-Tek
Over the Next 18 Months
MIAMI (Business Wire EON) October 18, 2007 --
Medical Technologies Unlimited, Inc. (Med-Tek), a Miami-based medical
technology company, today announced that DAS Family Holdings, L.P. of
Coral Gables has made a significant investment of growth capital into
Med-Tek. The deal will provide up to $25 million in working capital for
the company over the next 18 months. "We view Med-Tek as a great investment opportunity for us,”
said David Schwedel, Chairman of DAS Family Holdings. “Med-Tek’s
proven technology, value proposition and capable management team
promises to continue contributing to the strength of the healthcare
industry, and I believe this investment will enable the company to
execute on its growth potential." Schwedel’s investment will allow Med-Tek to
expand its operations and rapidly grow its business over the next
several years. The initial investment when combined with a follow on
equity investment will provide Med-Tek with $5 million in working
capital. Schwedel will continue to work with Med-Tek to provide up to an
additional $20 million in capital to help further expand Med-Tek’s
business opportunities throughout the United States during 2008 and
beyond. "We are pleased to partner with David Schwedel, as this investment
enables the company to enhance its research and technology development
for the diagnosis and treatment of muscular skeletal injuries and
ailments," said Dr. Marco Vitiello, President and Founder of Med-Tek. Med-Tek manufactures leading technology-based solutions for the
objective assessment of soft tissue injuries (STI) and repetitive stress
injuries (RSI), such as back pain, carpal tunnel syndrome, whiplash,
fibromyalgia and others. The company's proprietary medical technology
solution – Comprehensive Neuromuscular
Profiler – provides physicians with an
evidence-based tool to better diagnose the existence, type, severity and
acuity of STIs.
About DAS Family Holdings,
L.P.
DAS Family Holdings, L.P., is a private holding and investment
organization with interests in energy, healthcare, real estate, and
corporate finance. These companies are wholly owned, or controlled by
the same holding or management company, DAS Family Holdings. The company
is headquartered in Coral Gables, FL. For more information: www.dasfamilyholdings.com
.
4000 Ponce de Leon Blvd., Suite 470, Coral Gables, FL 33146. Telephone:
(305) 740-5199.
About Medical Technologies
Unlimited, Inc. (Med-Tek)
Medical Technologies Unlimited, Inc. (Med-Tek) is a medical technology
company specializing in medical diagnostic technologies that enable more
accurate and objective evaluations of muscular skeletal injuries and
ailments. The company's proprietary solution –
the Comprehensive Neuromuscular Profiler –
enhances a physician’s ability to assess soft
tissue injuries (STI) and repetitive stress injuries (RSI) more
accurately via the integration of innovative technologies. Med-Tek is
headquartered in Miami, FL. For more information, go to http://www.med-tek.com.
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