Published: March 23, 2007
Fit For Business Announces the Closing of the Acquisition of Footfridge Pty Ltd.
NEW YORK and BRISBANE, Australia, March 23, 2007 (PRIME NEWSWIRE) -- Fit For Business International Inc. announces the closing of the acquisition of Footfridge Pty Ltd. on March 23, 2007. The transaction was completed in a deal valued at US$1,000,000 in cash and shares. Footfridge Pty Ltd. is now a wholly owned subsidiary of Fit For Business. The deal gives Fit For Business the patent held by Footfridge for its coolant filled innersoles.
The patented innersoles are filled with a paste which cools and insulates the foot. The innersole was originally developed for workers who wear steel toe boots. Steel toe boots are warmer than other shoes and wearers may have foot problems associated with the elevated temperature within the boot. Product development has taken seven years and countless product revisions to get the product right.
The innersole will be marketed through infomercials and other advertising mediums to anybody that may have tired, sore, or aching feet. Test marketing has already been completed and the selected campaign will commence as soon as possible.
"This acquisition will provide a tremendous boost for the sales and distribution of the innersoles," said Peter O'Brien, inventor. "We are looking forward to having support for our new product development in the medical supply industry and the horse racing industry."
Although the innersoles were not developed for it, they were found to provide relief to diabetics with poor circulation and sore feet. Further testing by the American Diabetic Association showed improved circulation and a reduction in foot temperature. The innersoles are now approved to be sold as a therapeutic aid to diabetics. This opens up a new market as there are more than 40 million diabetics in America alone.
"This acquisition has changed the dynamics of Fit For Business and we are looking forward to developing new markets," said Mark Poulsen, CEO.
About Fit For Business Inc.
Fit For Business International Inc. is a corporate health company providing a wide range of corporate wellness programs and products. The programs incorporate nutritional supplements, physical activity programs with monitoring and reporting, all which support a healthy workforce. The results help the profits of each company by proactively dealing with the increasing epidemic of poor health, which equates to increased absenteeism and lower levels of productivity. Fit For Business has invested to qualify for the ISO 9001:2000 standards to ensure the highest quality of service for its programs.
Statements made in this press release that express the Company's or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements.
For further information on Fit For Business Inc., please visit www.fitforbusiness.com.au
CONTACT: Fort Street Equity
Mitchell Stough
(949) 903-3461
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