December 13, 2017
MIAMI–Toron, Inc. (OTC Pink: TRON) provided its stockholders today with a corporate update. It has announced that its vision to further enter the healthcare market has taken another step forward.
Toron has entered into a Letter of Intent to acquire InMed Group, Inc., a Montgomery, AL-based operator of hospitals and senior care facilities (“InMed”). InMed operates 3 hospitals and 9 adult care facilities in Alabama and Georgia. For Fiscal Year Ending December 31, 2016, the group recorded Revenue of approximately $87 million and posted an EBIDTA of approximately $7.6 million.
InMed’s corporate offices are located at 60 Commerce Street, #700 Montgomery, AL.
Toron entered into the Letter of Intent with InMed Group on March 5, 2017, and amended the Agreement on June 13, 2017, and October 8, 2017.
On September 29, 2017, Toron received a Letter of Intent for $11 million in equity from Flagship Properties, a New York-based institution. It is currently negotiating with several financial institutions for the debt component to complete our acquisition financing.
President Ortiz Morentin stated, “This acquisition demonstrates our resolve to bring value to all Toron shareholders and will serve as a clear example of the veracity of our iMedScan software. We fully intend to implement iMedScan software into all the operating units and expect that the insurance and patient collection process will be dramatically improved and hence, increase future cash flow from the acquisition.”
Toron Inc. is a publicly held Nevada corporation and is the owner of iMedScan Corp. iMedScan is an electronic data interface software for patient insurance verification.
InMed is a privately held corporation which has been in business since 1994. The company owns and operates three (3) hospitals located in Alabama and Georgia. Additionally, it owns and manages surgery centers and adult assisted living facilities.