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 Hot Stock to Watch |
Company: BioCorRx Inc. (OTCQB: BICX)
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Last:
Price: 0.1245
Change (%): + 0.0045 (3.75)
Volume: 13,800 |
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BioCorRx, Inc. Completes License Agreement for Distribution of its Start Fresh Program in Minnesota, Missouri, and Oklahoma
Los Angeles, June 27, 2014 (GLOBE NEWSWIRE) - BioCorRx, Inc. (“the Company”) (OTCQB: BICX), a leader in addiction treatment and rehabilitation programs, announced it has closed the sale for the exclusive license and distribution rights of its Start Fresh Program to multiple wholly owned subsidiaries of Start Fresh Midwest Holdings, LLC, which consist of common majority owners of Fresh Start Private Midwest, LLC. (“Midwest”). Under the terms of the finalized agreement, Midwest will pay BioCorRx, Inc. an upfront license fee plus an ongoing fee per program ordered 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 has seen such an increase in opiate addiction that earlier this year the state passed legislation offering immunity from prosecution to those who call for help during an overdose. Along with this new legislation the state also offers training in the administration of overdose reversing drugs to friends, family, and first responders who deal with addicts. Minnesota has also 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. According to the Centers for Disease Control, Oklahoma ranks as one of the highest states for prescription drug overdose deaths in the nation. 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 many families while creating a broader revenue stream for BioCorRx, Inc.
“We are very pleased with this latest license deal as it creates more distribution points for our program so that more people can be helped. This group currently operates in Nebraska, so their ramp up period should be relatively reduced.” said Kent Emry, CEO of BioCorRx, Inc. “Our goal is to have our program conveniently available to everyone and this is another step towards achieving that goal.”
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