Medical Innovation Holdings (OTC: MIHI) this morning said that it has reached an agreement with two of the company’s largest shareholders to retire 10 million common shares. The company’s issued and outstanding shares count was 40,912,082 common shares as of the last filing on March 19, 2018. This will be reduced to 30,912,082 common shares issued and outstanding, marking a 24.4% reduction in the number of outstanding common shares. MIHI is aiming to improve its balance sheet in an effort to attain financing for operations, acquisitions, and deployment of its virtual health telemedicine platform to rural primary care clinics and hospitals. The company and shareholders anticipate that the restructuring of the stock could improve its position to negotiate transactions moving forward. MIHI is currently in negotiations with several sources to raise capital to complete the acquisition of a nutraceutical company and growth capital. “We couldn’t be more delighted to know that our largest shareholders believe in our business plan that they are willing to support MIHI in improving the balance sheet and readying the Company for financing and potential growth,” MIHI CEO Arturo “Jake” Sanchez stated in the news release.
To view the full press release, visit http://cnw.fm/5vA1g
About Medical Innovation Holdings, Inc.
MIHI, a Georgia-based publicly traded company, seeks to operate strategically aligned health care service companies focused on virtual medicine as a way of bringing quality medical care to all areas of need including rural and underdeveloped areas across the country. Through its wholly owned subsidiary 3Point Care, MIHI intends to pair personalized, high-tech, high-touch, telemedicine encounters via virtual health specialty doctors with traditional primary doctors. Through other companies and relationships, MIHI offer Affordable Care Organization (ACO) support, wellness and prevention, services, and remote diagnostic monitoring. The company intends to serve constituents and stakeholders interested in reducing the cost of care, enhancing the quality of care, promoting access to care, and maintaining the continuum of care. For more information, visit the company’s website at www.MedicalInnovationHoldings.com.
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