Incorporated as a Nevada Corporation(red flag) in June 2008 and headquartered in Orlando, Florida(red flag), WellTek is executing(red flag) a series of complementary business strategies(red flag) designed to build and support a robust portfolio of best-of-breed(red flag) medical, rehabilitation and fitness brands, technologies and services. With specific concentration on high growth(red flag), emerging market sectors being fueled by the global Health and Wellness movement(red flag), the Company is acquiring or developing(red flag) medical and fitness solutions that help consumers live healthier, happier, longer lives.
The Company is led by a highly accomplished team of business, healthcare and technology professionals who agree that there is a clear and unprecedented confluence of market dynamics and consumer trends creating extraordinary, high growth opportunities in the Health, Fitness and Wellness industry.
With a mission to help consumers objectively qualify and readily access the very best health and fitness brands, technologies and products available in the marketplace, the Company hopes to win the trust of its customers, the respect of its peers, and the enduring support of its shareholders. WellTek believes(red flag) it can accomplish this through sound and transparent operational and financial performance, application of best industry practices, delivery of superior quality technological solutions, products and services, and by remaining attentive to evolving consumer-focused and consumer-driven demands and expectations for products and services that promote sustainable health, fitness and wellness for each individual. To accomplish this mission, WellTek has established four(red flag) distinct business units:
MedX Systems: proprietary Medical and Fitness Equipment The Spine Network: a proprietary turnkey program dedicated to the development of a national network of medical rehabilitation centers focused exclusively on the use of “aggressive exercise” to treat patients in pain Scoop! Fitness: Fitness and Training Studios Full Life Necessities: Consumer Health and Fitness Products MedX – Medically Proven Technology
WellTek is the parent company of wholly owned subsidiary MedX Systems, LLC (MedX). Founded in 1986 by Arthur Jones, the legendary U.S. entrepreneur and founder/inventor of Nautilus® fitness equipment(red flag), MedX is the manufacturer and worldwide distributor of proprietary, patented medical and fitness equipment branded under one or more trade names, including MedX®, Core Spinal Fitness System™, LowBACK StrengthPRO™ and Avenger®.
MedX is credited for pioneering an entirely new category in the Fitness Equipment sector: Medical Exercise Technology, which combines functional testing and resistance exercise necessary to restore and enhance health. The Company’s very first medical lumbar machine was unveiled with rave reviews in October 1987 at a major medical meeting held in New York City, known as the “Challenge of the Lumbar Spine.” Since that time, the medical MedX Lumbar Extension, MedX Cervical Extension, Rotary Neck and Torso and Knee/Hamstring machines have all been subjected to extensive multi-site studies conducted at various orthopedic clinics around the country, and have undergone independent testing and valuation by research teams fluent in Exercise Science at the University of Florida (UF) and the University of California San Diego (UCSD).
In fact, over the past 21 years, more than 100 articles have been published in peer-reviewed medical journals confirming MedX’s ability to materially decrease chronic spine-related pain issues, restore spinal function, improve quality of life and independence, and decrease or eliminate the need for ongoing spinal care or pain management – even after multiple failed attempts at other forms of treatment (to include surgical intervention)(red flag). MedX’s innovative medical exercise machines succeeded in providing the global medical community with the very first(red flag) tools capable of producing specific and accurate tests of functional ability, as well as the finest source of rehabilitative exercise.
MedX products achieve training efficiency through resistance curves matched to tested and proven strength profiles. They operate at a very low level of friction using bio-mechanical precision and offer a choice of resistance in two-pound increments, ensuring a weight that is just right – not too heavy – and not to light, promoting rapid and steady progress. All MedX machines are backed by a five year warranty on moving parts and a 10-year warranty on the frame, and require virtually no maintenance other than cleaning. In 2002, MedX created (non-medical) exercise versions of its medical machines and branded them the Core Spinal Fitness System™. In less than 20 minutes, twice a week, these five machines can help reduce or eliminate back pain by focusing on strength, stability, flexibility and endurance of the body’s core, providing a solid foundation for whole-body strength.
To protect and maintain MedX’s high quality standards and perpetuate its world class reputation for engineering and manufacturing excellence, the Company has always self-manufactured its equipment in its 110,000 square foot production facility based in Ocala, Florida.
MedX has succeeded in building a “Who’s Who” customer base comprised of many professional sports teams; dozens of colleges and universities – both domestic and abroad; a large number of federal government agencies(red flag), including but not limited to the U.S. Military, CIA, Department of Energy, Secret Service, FBI and the Veterans Administration (numerous locations); Fortune 500 companies, such as(red flag) General Motors and Tyson Foods; and numerous world class medical rehabilitation and leading wellness centers throughout North America and around the world.
A Fresh “Re-Start”
The acquisition of MedX by WellTek in June 2008 triggered a fresh “re-start” for the exercise equipment and launched the first critical execution phase of WellTek’s ambitious business plan. Upon assuming control of MedX, WellTek’s management revamped MedX’s operations adopting lean manufacturing principles and practices; and upgraded the software and electronics on its medical machines. In addition, new customer service protocols have been implemented and quality control standards and practices have been established so that we can now seek compliance with mandated FDA manufacturing requirements.
MedX now meets ISO 9001 and ISO 13485 quality standards and its medical machines have been granted CE Marks giving the Company free rein to market MedX solutions to customers in European Union countries and other countries around the world that recognize the CE Mark approval process. More importantly, in late 2008, WellTek plans to unveil MedX’s next generation, modular-designed line of patented medical exercise equipment featuring several innovations in system design, functionality and user benefits. Following the launch of this new line, coupled with key cost reductions achieved through streamlined internal manufacturing processes, (and possibly further enhanced cost savings if management proceeds with outsourcing production of certain equipment components to offshore manufacturers), MedX should experience improved sales traction by capitalizing on key competitive advantages: technologically superior solutions.
The Spine Network
Buoyed by an extensive body of independent studies and clinical research conducted at leading universities and orthopedic rehabilitation clinics nationwide, a growing constituency of medical care specialists are favoring aggressive exercise therapy in lieu of traditional rehabilitation (manipulation, ultrasound, injection therapy and acupuncture, among others) or surgery to help patients resolve chronic and severe back pain. According to an article published in The Wall Street Journal (November 2002), “Those who can soldier through the treatment call it a miracle cure. A number of recent studies show back pain sufferers who use aggressive exercise are far more likely to return to work, have less pain and are less likely to seek additional back treatment than those who use more traditional treatments.”
MedX has long maintained that rest and inactivity do not work when treating chronic spine pain. Rather, inactivity promotes disuse atrophy, stiffness and more pain in a downward spiral. Utilizing MedX medical exercise machines, patients can isolate the most important supporting muscles of the back and neck, strengthening the critical structures. Exercise equipment at health clubs or other physical therapy facilities do not isolate these important muscles. Consequently, one can exercise yet still be subject to ‘deconditioning’ in the most critical areas – the neck and/or lower back. MedX equipment is computerized, so that strength and endurance data can be documented and progress easily monitored. And, because on occasion people experience an increase in symptoms when beginning a meaningful exercise program, supervision by knowledgeable professionals is extremely important. It takes proper equipment, doctor supervision and accurate data collection to achieve and maximize successful outcomes.
Currently, there are more than 1000 clinics in the U.S. and abroad who specialize in treating patients with aggressive exercise therapy using MedX medical exercise machines. WellTek believes that there exists a compelling opportunity to partner with both well established clinics currently using MedX machines and with enterprising physicians and physician groups seeking to open The Spine Network centers, thus creating a nationwide network of rehab centers that are collectively committed to the ideals and applications of MedX-enabled exercise science to treat back and neck pain. In this regard, the Company has created The Spine Network program providing its physician partners with a turnkey business development platform, attractive economic incentives and state-of-the-art MedX medical equipment necessary to promote the use of aggressive exercise as treatment of chronic neck and/or back pain.
WellTek’s management team is currently pursuing active discussions with one of the nation’s leading medical groups using MedX machines and the principles of aggressive exercise exclusively to treat its thousands of patients suffering from chronic and severe spine-related pain issues. Operating several treatment facilities in the Upper Midwestern region of the country, this medical group is believed to represent an ideal first program partner, although no formal partnership agreement has yet been reached with its principles. Nonetheless, WellTek intends to pursue this and other similar opportunities to help establish the foundation for this exciting new business unit.
Scoop! Fitness
In July 2008, WellTek executed a Letter of Intent to acquire a 70% interest in health and wellness company Scoop! Fitness™, Inc. Presently operating four fitness studios in South Florida, Scoop! Fitness employs a variety of methods to meet its customers’ wellness needs. More specifically, both private and group instruction is offered on Pilates, Gyrotonic and yoga, enabling its customers to achieve functional fitness, core strengthening, active isolating stretching, assisted stretching, traditional strength training and cardiovascular exercise.
Scoop! Fitness is led by certified instructor Frankie Puglisi, widely recognized as one of the nation’s leading Pilates’ experts and functional fitness specialists. Under Ms. Puglisi’s direction, Scoop has focused its growth strategy on establishing high-end exercise studios to meet the health and fitness demands of individuals serious about achieving personal strength and endurance goals. Once the acquisition is completed and Scoop has been successfully integrated into WellTek’s operating platform, we plan to open an additional 14 Florida-based studios before the end of 2009. National expansion initiatives will commence thereafter. Through branding and local multi-media advertising programs, WellTek will endeavor to ultimately establish Scoop! Fitness as the health and wellness “destination of choice” for health-conscious Americans seeking personal fitness instruction.
Full Life Consumer Products Division
Recognizing that consumers will continue to play a significant role in influencing hot new trends in the health and wellness industry well into the foreseeable future, WellTek formed a division focused solely on offering health and fitness-conscious consumers superior health, fitness and wellness products that can help make a positive difference in their lives. With the planned introduction of MedX’s first line of in-home exercise equipment in 2009, WellTek will market these machines through Full Life utilizing direct-to-consumer marketing channels (i.e. infomercials, independent resellers, physician offices, retail stores and specialty fitness equipment outlets). In addition, WellTek will actively seek out opportunities to either develop or acquire new consumer product offerings that prove beneficial to the health, fitness and wellness of individuals.
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