iTech Medical, Inc (OTCPK:IMSU) signed a letter of intent to acquire BIOflex Medical Magnetics, Inc. from Charles Zablotsky and his brother Ted Zablotsky for $2.7 million in stock on May 1, 2012. The transaction is subject to among other things, the execution of a definitive agreement and the successful completion of due diligence. Bryan Andrew of WallStreet Media Group acted as public relation advisor.

iTech Medical, Inc (OTCPK:IMSU) completed the acquisition of BIOflex Medical Magnetics, Inc. from Charles Zablotsky and his brother Ted Zablotsky on February 20, 2013. Wayne Cockburn will continue as Chief Executive Officer of the combined company. Charles Zablotsky will remain President of BIOflex Medical Magnetics. Two members of the iTech Board of Directors and two members of the BIOflex Board of Directors will serve on the new Board of Directors, with a fifth member to be appointed in 2013. iTech Medical will be moving its headquarters to Salt Lake City, Utah and BIOflex Medical Magnetics will continue to be headquartered in Ft. Lauderdale, Florida.