PLEASANT HILL, Iowa, Oct. 20, 2010 (GLOBE NEWSWIRE) -- Vivakor, Inc. (OTCBB:VIVK) announces today that it has entered into an exclusive licensing agreement with MIT Holding Inc. (OTCBB:MITD) to manage all distribution of its Vivathermic Vials worldwide. Chairman Matt Nicosia adds the following statement to the news: "This is a great step forward in the distribution of Vivakor technology. Our Vivathermic vials are the most sensitive vials on the market for biological transportation and storage. Vivathermic vials are used in all aspects of biological preservation including the most sensitive stem cells. We envision the demand for Vivathermic vials will continue to increase over the next five years as these vials could become the standard for all biological storage and transportation. Vivakor searched for a distribution partner that shared its vision of extending the length and quality of life while also increasing the value of the technology and enhancing shareholder value. This distribution agreement with MIT Holding Inc. creates a distribution opportunity and a long term commercialization partner for Vivakor Technologies."
MIT Holding Inc.'s Co-Chairman and Co-President, Walter H.C. Drakeford, added the following statement, "MIT Holding Inc. continues forward with its objective and mission of improving the quality of life. Vivathermic technology is a piece of that objective and adds to our portfolio of technologies as we continue to build shareholder value while improving life."
About Vivakor Inc.
Vivakor™ is a biomedical/biotechnology company with transdisciplinary research that develops and acquires products in the fields of molecular medicine, electro-optics, biological handling and natural and formulary compounds that extend or improve life. More information can be found about Vivakor at www.vivakor.com.
About MIT Holding Inc.
MIT Holding, Inc. (MIT) is a holding company. The Company, through its three wholly owned subsidiaries, distributes wholesale pharmaceuticals, administers intravenous infusions, operates an ambulatory center where therapies are administered, and sells and rents home medical equipment. The Company's subsidiaries include MIT International Distribution, Inc. (MIT International), Medical Infusion Technologies, Inc. (Infusion), and MIT Ambulatory Care Center, Inc. (Ambulatory). The Company has four principal operating segments: Medical Infusion Technologies (MIT), MIT Wholesale (Wholesale), Durable Medical Equipment (DME) and MIT Ambulatory Care Center (Ambulatory Care). More information can be found at .
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
CONTACT: Vivakor, Inc. Investor Relations (888) 648-8485