KENNEWICK, Wash., Oct. 27, 2011 (GLOBE NEWSWIRE) -- Advanced Medical Isotope Corporation ("AMIC") (OTCBB:ADMD), a company engaged in the production and distribution of medical isotopes, has engaged Global TechInnovations ("GTI") for assistance in acquiring a Russian company that specializes in the production and sales of stable isotopes and critically needed industrial as well as radioactive isotopes used for medical diagnostic and therapeutic uses. With a broad base of clients worldwide, including key alliances and production capabilities, AMIC anticipates executing definitive documents prior to year-end.
GTI will also assist in identifying and executing on further acquisition opportunities within Russia and the Former Soviet Union (FSU) states. GTI will act as strategic consultants and advisors to AMIC, providing services including participating in meetings and negotiations between AMIC and other target companies, as well as assisting in the post-acquisition support so vital to success.
The initial target company's assets include separation process technologies, analytical work product from multiple production and scientific partners, proprietary contracts, and an existing global sales presence. The company's combination with AMIC is expected to create seamless integration and delivery standards, resulting in increased revenue for AMIC.
James C. Katzaroff, CEO and Chairman of AMIC commented, "When AMIC began searching for assistance in its acquisition process, we turned to the United States Industry Coalition ("USIC") due to its commitment to its members and its global influence. Anticipating the positive conclusion of our targeted acquisition, AMIC will expand its technological capabilities and its global reach. Further, it will change the strategic landscape and assist AMIC in enhancing our competitive position and expand our organizational capabilities."
Artour Baganov, Managing Director of GTI, stated, "We are extremely pleased to be working with AMIC and to assist them in their acquisition efforts. We at GTI look forward to a long and mutually beneficial relationship with AMIC. We believe AMIC will be a substantial force in the medical industry known for its innovation and their commitment to excellence."
The introduction of AMIC and GTI was brokered by a partnership between the United States Industry Coalition – a trade association whose members -including AMIC- are actively engaged in technology commercialization in the service of global security, peace and prosperity; and CRDF Global, a non-profit organization that facilitates international science collaboration.
Baganov further states, "I am not surprised that AMIC is the first deal to come from the partnership between CRDF Global, USIC and GTI as AMIC's CEO James Katzaroff is himself an innovator who is adept at identifying as well as leveraging advantageous international nuclear medical technology opportunities."
About Advanced Medical Isotope Corporation
Advanced Medical Isotope Corporation (OTCBB:ADMD) is a company engaged in the production and distribution of medical isotopes for advanced diagnostic and non-surgical therapeutic application. AMIC's goal is to empower physicians, medical researchers, and ultimately patients by providing them with essential medical isotopes that, until recently, have not been feasible or economical, in an effort to detect and cure human disease. For more information, please visit our website, www.isotopeworld.com
The Advanced Medical Isotope Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5139
About Global TechInnovations
Global TechInnovations is a for-profit global investment and professional services company, in which CDRF Global is the principal investor. GTI offers international expertise in assisting Russian and foreign experts in the field of innovative entrepreneurship. GTI provides a wide array of professional services in support of U.S. companies engaging in global expansion who seek access to advanced innovations, technology start-ups seeking access to global markets, and research organizations interested in doing R&D on a contractual basis. GTI was recently engaged by the Plug and Play Tech Center, one of the most well-known and successful Silicon Valley business incubators, to facilitate their efforts in Russia.
About United States Industry Coalition
The U.S. Industry Coalition (USIC) is a non-profit corporate membership association of high tech businesses, associations, and research institutions who are actively engaged in technology commercialization in the service of global security, peace and prosperity.
For more information, please visit www.usic.net
About CDRF Global
CRDF Global is an independent non-profit organization that promotes international scientific and technical collaboration through grants, technical resources, training, and services. Under the umbrella of CRDF Solutions, they offer a suite of resources that simplifies the complex process of conducting international scientific research and expanding clients' commercial opportunities globally. CRDF Global is is based in Arlington, Virginia, with offices in Moscow, Russia; Kyiv, Ukraine; Almaty, Kazakhstan; and Amman, Jordan. For more information, please visit www.crdf.org
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects", "anticipates," "continue," "estimates," "projects,""intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT: Advanced Medical Isotope Corporation James C. Katzaroff (509) 736-4000 6208 W. Okanogan Ave. Kennewick, Wa. 99336