MIT Holding (MITD) offers through its Portfolio of licenses, contractual and affiliate agreements services and products currently including but not limited to: compound pharmaceuticals, administer intravenous infusions, medical management services, in home or ambulatory center therapies and sells and rents home medical equipment.
In support of these core services, MITD provides expert accounting, advisory and educational services to physicians, medical centers, hospitals, small and large businesses regarding the Affordable Care Act; offers travel and transportation services of medically challenged patients for medical needs and personal travel; and through its contracts is approved to conduct and administer FDA clinical trials.
Collectively, these services contribute to MITD’s strategy to provide custom prescription solutions in a variety of methods and generate multiple revenue streams. Following a successful reorganization initiative in January, 2014, MITD is positioned to achieve 32% minimum net profits and has maintained profitability in its fiscal second and third quarters. This profitability validates the company’s business model and its approach to the evolving Affordable Health Care Act and its impact on the health services industry.
MITD meets and/or exceeds major U.S. health insurance requirements and is therefore able to direct bill and receive payments from carriers on behalf of the patient its agents and its facilitators. This ability marks an important step in the company’s goal of developing the first-of-its kind seamless transition for patient needs from hospital discharge to complete home recovery. This and other corporate initiatives are spearheaded by a management team committed to building shareholder value, revenues and corporate expansion while providing viable solutions to the perpetual changes in the health care sector.
- Successful Corporate Reorganization
Three Profitable Operating Subsidiaries
Approved by 130+ Insurance Carriers
Growing Portfolio of Contracts
Two Primary Market Opportunities
Portfolio of Services
| ||Providing custom compound pharmaceutical solutions through a variety of methods designed to improve the lives of patients with specific needs. |
| ||Offering patients professional outpatient medical care through an ambulatory center, home infusion services, and medical equipment delivery. |
| ||Striving to provide a wide variety of home medical supplies through durable medical equipment agreements that are fully accredited with Medicare and over 130 insurance carriers. |
Top 6 Investment Considerations
- On June 30, 2014, MITD reported its first profitable quarter in six years with all activities operating with objectives of a 32% net profit. Beginning January 1, 2014, revenues met the requirement of an average net of 32%. Future contracts, sales and services will be priced and marketed at the 32% standard.
Curaspan Health Group has awarded two contracts to MITD: “Accessing the Central Network for Patient Transitions” and “Renewed Annual Referral Central Network for Patient Transitions.” These contracts allow MITD and its future acquisitions to market on a real-time basis the compound pharmaceuticals, infusion services and durable medical equipment directly to the patients of more than 5,400 Curaspan medical facilities.
Coastal Carolina Medical Center has engaged MITD for initial in-hospital treatments of patients. These services will then expand in scope and medications. The average treatment per patient is expected to bill at an average of $923 per treatment.
AMGP Georgia Managed Care Company, Inc., the Georgia subsidiary of WellPoint Health Networks Insurance (NYSE: WLP), the largest member managed care company in the United States, revised a “Participating Provider Agreement” to include ambulatory, infusion and perinatal services. They serve members in the Georgia Families Programs, such as Medicaid and PeachCare for Kids.
MITD is approved by more than 130 insurance carriers for payment of medical goods and services. 6. The company has been awarded a contract to coordinate, conduct and administer FDA clinical trials for SERRG Savannah Inc., a multi-specialty research organization. This contract provides for an open and ongoing agreement for additional trials.
The company has been awarded a contract to coordinate, conduct and administer FDA clinical trials for SERRG Savannah Inc., a multi-specialty research organization. This contract provides for an open and ongoing agreement for additional trials.
The healthcare facilities industry continues to outperform the stock market as a whole and many experts expect this trend to continue due to the greater longevity of U.S. and worldwide populations. More and more people are being discharged earlier from hospitals in order to reduce the cost of hospital care. These people need continued outpatient care, and MITD is positioned to meet this need with ambulatory infusion therapy, home infusion therapy and various products including walkers, wheelchairs and respiratory equipment. In addition, MITD will handle billing and interact on behalf of the patient with their insurance carrier, thereby providing a complete “one stop” service for customers.
Baby Boomer Generation
The company is also positioned to benefit from the increasing number of Baby Boomers entering retirement and their increasing medical needs. The Baby Boomer generation of roughly 73 million Americans accounts for about 40% of all U.S. spending, according to the Centers for Disease Control (CDC).
Approximately 10,000 Baby Boomers turn 65 each day – a demographical progression expected to continue at the same pace throughout the next 19 years. As the Baby Boomer population ages, MITD is presented with growing opportunity to provide its services to a rapidly growing demographic.
Tommy J. Duncan - President, Director
Tommy J. Duncan in January, 2015, joined MIT Holding as president and director. Duncan’s management experience includes serving as president at Southeast Vending LLC as well as president of Southeast Lumber & Construction, Inc. for which he successfully executed numerous mergers and acquisitions and was responsible for identifying and securing financing from multiple funding sources. During his tenures as secretary and treasurer at both Auto Locators, Inc. and Custom Locators USA, Inc., Duncan demonstrated his ability to identify talented management and appoint selected individuals to key positions to sufficiently accommodate corporate expansion. His prior experience also includes serving on the board of directors at CNB Bancorp, Inc. (Windsor, Virginia).
Robert L. Yates - CFO
Robert L. Yates in 2008 joined MIT Holding as controller. Yates relocated to Savannah, Georgia, in 2006 and, after a brief retirement, decided to rejoin the workforce. Since 1987, Yates has served as controller or chief financial officer in small-to-medium size firms in Northern California. Yates received his accounting degree from San Jose State University in 1978 and gained his accounting and auditing experience with Arthur Young & Co. in San Jose, California. He obtained his license as a Certified Public Accountant (CPA) in 1980. Yates is a veteran who served in the U.S. Air Force in the Vietnam era.
Walter H.C. Drakeford - Chairman of the Board of Directors
Walter H.C. Drakeford in 2010 joined MIT Holding as chairman of the board of directors. His stellar career includes being the senior managing director of Drakeford & Drakeford for the past 20 years. Since 2007, he has been the director of mergers and acquisitions of AMC Global Communications, Inc. Drakeford served as chairman of the board for Ebank Financial Services, served on the boards of Netstar-USA Corp. and LaidLaw Transportation, as well as serving as an attaché to the White House under presidents Nixon, Reagan and George H.W. Bush. Drakeford holds a finance degree from the University of Berlin and a Masters of Business Administration from Heed University. He also holds a law degree from Thomas Jefferson School of Law.