WLSI million dollar baby
Wellstar International, Inc. Signs LOI for up to $1 Million in Funding
HOLLAND, OH,(MARKET WIRE via COMTEX) -- Wellstar
International, Inc. (OTCBB: WLSI), a provider of specialized
diagnostic software and equipment, announced today that the Company
has signed a "Letter of Intent" (LOI) with Fairhills Capital for an
equity funding of up to $1 million. Final details and contract for
the
financing are still under discussion. The financing will beused to
implement a special leasing program in support ofWellstar's wholly
owned subsidiary Trillennium Medical Imaging'slaunch of its thermal
imaging system. The Company's thermal imagingsystem, which detects
early signs of pressure ulcers, will be marketed to long-term care
(LTC) facilities in the U.S. with this special leasing program as an
option. The lease program allows the systems to be more affordable
and
essentially a "must-have" for LTC facilities that are seekingto
curtail potential liabilities and receive a higher rating fromthe
Centers for Medicare & Medicaid Services (CMS) under theagency's
"pay
for performance" standards. These standards bythe CMS, which will
soon be effective, will support better carecoordination for patients
with chronic illnesses amonghealthcare service facilities.
Wellstar estimates revenues withinthe first 12 months of
implementation to be in excess of $16million, for 2010 revenues to
be
in excess of $69 million, anda projection of $133 million in 2011.
The Company also anticipatesbeing cash flow positive this fiscal
year. The Company isanticipating the installation of at least 300
FDA
approved thermal imaging systemsper month, following the first 6
months of initial roll-out,through 2010. That number will increase
to
400 per month by2011. There are nearly 16,000 LTCfacilities in the
United States, anda pending need for more with an aging population
that isincreasing in numbers year after year.
Fairhills Capital is aprivate equity firm that invests capital into
companies in theemerging markets. The firm pursues investment
opportunities insmall-cap companies that have a strong management
team and theability to implement their business plan.Fairhills
Capital has invested in over 50 public and privatecompanies in
various sectors including oil and gas, communication,arts and
entertainment, services and healthcare / medical products.
Wellstar's CEO, John Antonio, stated: "We are pleased thatFairhills
Capital shares our excitement and eagerness to beginrolling out our
thermal imaging systems. The epidemic of bed sorescontinues to rise
and we anticipate the demand for these systemsamong just the long-
term care facilities to be tremendous. We havean enormous and
largely
untouched market to go after with ourrevolutionary system. With
early
detection of this veryserious epidemic, we have the ability to help
save and extend manylives."
ABOUT WELLSTAR INTERNATIONAL, INC.
WellstarInternational, Inc., through its wholly owned operating
subsidiaryTrillenium Medical Imaging, Inc. (TMI), is poised to
become
aleading diagnostic company in the health care 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
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