MIT Holding Inc. (OTCMKTS:MITD) recently reported its 2Q14 financial results with a net profit of $20,892. This remarks the company’s first quarterly profit over the past six years. The company noted that the 2Q14 net profit represents a turnaround of $360,949 as compared to 2Q13 net loss. The 1H14 net profit represents a turnaround of approximately $0.68 million as compared to 1H13 net loss. The company attributed this stellar financial performance to the completion of its re-organization efforts. The company’s income from activities increased over 96 percent for 1H14 as compared to 1H13.
President of MIT Holding Inc. (OTCMKTS:MITD), Walter Drakeford expressed that the steep increase in profitability underscores the company’s business model and the business approach to the ever changing ‘Health Care Act’ and health services sector. The company reporting a profit is a major milestone and the management looks forward to building this over the coming period.
MIT Holding operates through its wholly-owned subsidiaries, engaging in the distribution of wholesale pharmaceuticals in the U.S. The company also administers IV (Intra-Venous) infusions in Georgia. In addition, the company operates ambulatory centers and rents or sells home medical equipment. The company is also in talks with the government authorities to secure necessary approvals, permitting the import of pharmaceutical products into the Americas. The company’s domestic wholesale distribution is operated through Medical Infusion Technologies, Inc. that sells pharmaceutical products to wholesalers and end-users in the U.S.
Medical Infusion Technologies, a MIT Holding Inc. (OTCMKTS:MITD) company, grew with addition of new divisions to its health service line, including ambulatory center, home medical equipment and a compounding pharmacy located-on-premises. MIT became a leader in infusion services with 24/7 service offering throughout Georgia, serving clinics, hospitals, physicians and pharmacies.
MIT Holding was established back in 1990 as a privately owned corporation to provide quality professional services in the healthcare industry.