WellTek Announces 2009 Year End Results

ORLANDO, Fla., April 29 /PRNewswire-FirstCall/ -- WellTek Incorporated (OTC Bulletin Board: WTKN), a global health, fitness and wellness company, is pleased to announce that the Company reported $2.54 million in revenue for the 2009 fiscal year ended December 31, 2009, representing a 15% increase over $2.20 million in revenue posted for 2008.  The increase is primarily attributable to international sales by the Company's subsidiary, MedX Limited.

WellTek reported a gross profit of $1.26 million for the 12 months ended December 31, 2009 as compared to $586,000 for the prior year, reflecting a 115% increase.  The increase in WellTek's gross profit stems from the restructuring efforts at MedX Limited, which helped to significantly reduce production and salary costs.  Consequently, the Company's operating losses on a year-over-year basis declined 35% to $1.39 million from $2.14 million; and net losses dropped 21% to $1.72 million, or $0.02 per basic and diluted share, from net losses of $2.19 million, or $0.04 per basic and diluted share.

"We are pleased with the progress that WellTek made in 2009," stated Randy Lubinsky, CEO of WellTek.  "We look forward to continuing to increase shareholder value in 2010 through enhanced sales at MedX and by signing and implementing contracts at Pure HealthyBack.  We also anticipate exploring strategic acquisitions in the wellness industry that are deemed synergistic and complementary to our existing growth platform."

MedX® exercise and rehabilitation equipment has been sold in all 50 states and around the world.  The medical and exercise machines can be found in colleges and universities; professional sports teams' training facilities; government agencies, including but not limited to every branch of the U.S. Armed Forces, CIA, Department of Energy, Secret Service, FBI and the Veterans Administration (numerous locations); Fortune 500 companies, such as General Motors and Tyson Foods; and hundreds of medical rehabilitation hospitals and leading wellness centers throughout North America and around the world.  MedX machines have undergone independent testing and evaluation by research teams fluent in Exercise Science at the University of Florida and the University of California San Diego, among other leading academic research institutions around the world.

The Company's wholly-owned subsidiary Pure HealthyBack uses MedX medical machines and scientifically proven rehabilitative exercise protocols to help patients resolve chronic back and neck pain - ailments that afflict an estimated 80% of all adult Americans and costs the U.S. healthcare system as much as $100 billion every year.  The program provides non-surgical treatment and has had documented success in improving spinal function and significantly reducing symptoms, at a substantially reduced cost to managed care and self insured companies.  Current methods for treating chronic back and neck pain have significant shortcomings, including escalating costs; expensive, unnecessary and unproven treatments and procedures; and increasing surgical rates.  These issues have resulted in skyrocketing costs, causing payers and self-insured employers to actively seek innovative solutions that improve outcomes, control costs and hold patients and providers accountable.  Pure HealthyBack is seeking to develop programs with managed care and self insured companies nationwide.  

The Company has filed its 10-K with the U.S. Securities and Exchange Commission, which can be viewed at www.sec.gov.  

About WellTek Incorporated

WellTek is a global health, fitness and wellness company that provides solutions to help address some of the world's most pressing and costly health challenges -- obesity and chronic neck and back pain.  The Company's subsidiary, MedX Limited, manufactures, markets and distributes the most advanced medical exercise equipment to the medical and fitness markets.  Through its wholly owned subsidiary Pure HealthyBack, Inc., WellTek is redefining healthcare delivery by providing health plans, self-insured employer groups, and consumers with a viable non-surgical, lower cost treatment for patients who are seeking lasting relief from chronic neck and back pain.  For more information on the Company, please visit www.WellTekinc.com.  

Certain statements contained in this press release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective Company's Securities and Exchange Commission filings, that may cause actual results to materially differ from projections. Although the Company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses, expectations, representations and operations, there can be no assurance that actual results will not differ materially from their expectations.  Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the Company's ability to execute properly its business model, to raise additional capital to implement its continuing business model, the ability to attract and retain personnel – including highly qualified executives, management and operational personnel, ability to negotiate favorable future debt facilities and capital raises, and the inherent risk associated with a diversified business to achieve and maintain positive cash flow and net profitability. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.  

FOR MORE INFORMATION, PLEASE CONTACT:

Elite Financial Communications Group, LLC

Dodi B. Handy, President & CEO (Twitter: dodihandy)

Kathy Addison, VP of Elite Media Group (Twitter: kathyaddison)

407-585-1080 or via email at [email protected]

SOURCE WellTek, Incorporated

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