HUNTINGTON BEACH, Calif., May 23, 2012 (GLOBE NEWSWIRE) -- iTech Medical, Inc. (Pink Sheet:IMSU) (FWB:0IM) and BIOflex Medical Magnetics, Inc. announced today that they have entered into a Letter of Intent under which iTech Medical will acquire 100% of BIOflex Medical Magnetics, a consumer healthcare company. BIOflex Medical Magnetics holds the exclusive worldwide rights to the patented BIOflex® magnetic therapy product line, developed specifically for human medical use. 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.
