BioCorRx, Inc. Executes Letter of Intent to Sell Rights for the Start Fresh Program in Minnesota, Missouri, and Oklahoma
Los Angeles, March 18, 2014 (GLOBE NEWSWIRE) -- BioCorRx, Inc. ('the Company") (OTCQB: BICX), a leader in addiction treatment and rehabilitation programs, announced it has entered into a letter of intent to sell the exclusive license and distribution rights of its Start Fresh Program to Fresh Start Private Midwest, LLC ("Midwest"). Under the terms of the pending agreement, Midwest will agree to pay BioCorRx, Inc. an upfront license fee plus an ongoing upfront fee per program order in the states of Minnesota, Missouri, and Oklahoma.
The combined population of these states is over 15 million people, many of which can benefit from the Start Fresh Program. Minnesota for instance, has been ranked third in a list of states with the highest percentage of residents dependent on alcohol by the Substance Abuse and Mental Health Services Administration, an agency within the Federal Department of Health and Human Services. This pending agreement creates the potential to help countless families in all three states suffering from the ill effects of this deadly disease, the worst of which are fatalities due to overdose and impaired driving. According to the Centers for Disease Control, Oklahoma ranks as one of the highest states for prescription drug overdose deaths in the nation. Furthermore, the FDA has recently approved of a new pure hydrocodone painkiller that is presumably going to increase the already abysmal addiction and overdose rates nationwide. Impaired driving deaths are not only tragic, but cost Missouri taxpayers approximately $1.4 billion annually. Bringing the Start Fresh Program to these three new states will positively impact families while creating a broader revenue stream for BioCorRx, Inc.
"We are pleased about this pending deal for several reasons. A wider footprint throughout the Midwest expands our reach and increases revenues in a well-populated area" said Kent Emry, CEO of BioCorRx, Inc. "This is an indication of the potential of the Start Fresh Program to quickly become a national household brand when it comes to recovery from these debilitating addictons. Furthermore, FSP Midwest currently operates in Nebraska and we are pleased with their operations and representation of our program thus far."
BioCorRx, Inc. (OTCQB: BICX) is an addiction treatment and rehabilitation company on the leading edge of substance abuse addiction treatment. The company has developed a highly effective program called the Start Fresh ProgramTM consisting of two components used by various addiction clinics in the US. Clinic reports show that the treatment program has an 85% success rate with individuals that complete the program. The first component of the program consists of an outpatient implant procedure performed by a licensed physician that delivers therapeutic levels of the drug Naltrexone, an opioid antagonist that significantly reduces physical cravings for alcohol and opioids, into the body. The second component of the program developed by BioCorRx is a one on one coaching program specifically tailored for the treatment of alcoholism and other substance abuse addictions. For more information on BICX, visit www.BioCorRx.com
Safe Harbor Statement
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.
CONTACT: Investor Relations Maximum Performance Advisors, Inc. 858-381-4677
Released March 18, 2014