Wellstar International, Inc. Secures $250,000 of New Financing which is almost half their market cap
HOLLAND, OH — (Marketwire) — 03/09/09 — Wellstar International, Inc. (OTCBB: WLSI), a provider of specialized diagnostic software and equipment, announced today that it has secured $250,000 in financing through a private transaction with an accredited private investor. The financing will provide the Company adequate initial funding to start the roll-out of its thermal imaging systems that detect early signs of pressure ulcers among patients that are bed-ridden. However, the Company will need additional capital to implement its first installations, in which the Company is in final stages of agreement with private equity firm, Fairhills Capital, who earlier this week signed a LOI for up to $1 Million in equity funding.
Wellstar’s CEO John Antonio stated, “We are pleased with the confidence that our newest investor has placed in our ability to reach our next milestone. Through our innovative thermal imaging systems, Wellstar will become the leader in early detections of pressure ulcers throughout the healthcare industry. Our goal is simple; we want to provide the healthcare industry with a critical tool that will help them save lives and curtail potential liability by simply detecting the pressure ulcers before its outbreak.”
The company has developed its thermal imaging system for various applications. The TMI technology and software has been approved by the FDA as an Adjunctive Diagnostic Screening Procedure for early breast cancer detection, differential diagnoses of pain dysfunctions (such as Reflex Sympathetic Dystrophy, Neuromuscular Skeletal Syndromes and neurological disorders), for the early detection of pressure ulcers, deep tissue injuries, and bedsores, as well as for orthopedic applications. The company has plans to market diagnostic systems for all of the above mentioned applications.
ABOUT WELLSTAR INTERNATIONAL, INC.
Wellstar International, Inc., through its wholly owned operating subsidiary Trillenium Medical Imaging, Inc. (TMI), is poised to become a leading diagnostic company in the healthcare industry. TMI has developed and is marketing fully calibrated and functional, thermal imaging systems that utilize state-of-the-art infrared technologies and proprietary software to accurately and cost-effectively measure physiological changes in the human body. More information on the Company and its unique diagnostic software and product line is available on Wellstar’s corporate Website by visiting: www.wellstar.us
This press release contains statements, which may constitute ‘forward-looking statements’ within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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