Los Angeles, June 27, 2014 (GLOBE NEWSWIRE) -- BioCorRx, Inc. ('the Company") (OTCQB: BICX), a leader in addiction treatment and rehabilitation programs, announced it has closed the sale for the exclusive license and distribution rights of its Start Fresh Program to multiple wholly owned subsidiaries of Start Fresh Midwest Holdings, LLC, which consist of common majority owners of Fresh Start Private Midwest, LLC. ("Midwest"). Under the terms of the finalized agreement, Midwest will pay BioCorRx, Inc. an upfront license fee plus an ongoing fee per program ordered in the states of Minnesota, Missouri, and Oklahoma.
The combined population of these states is over 15 million people, many of which can benefit from the Start Fresh Program. Minnesota has seen such an increase in opiate addiction that earlier this year the state passed legislation offering immunity from prosecution to those who call for help during an overdose. Along with this new legislation the state also offers training in the administration of overdose reversing drugs to friends, family, and first responders who deal with addicts. Minnesota has also been ranked third in a list of states with the highest percentage of residents dependent on alcohol by the Substance Abuse and Mental Health Services Administration, an agency within the Federal Department of Health and Human Services. According to the Centers for Disease Control, Oklahoma ranks as one of the highest states for prescription drug overdose deaths in the nation. Impaired driving deaths are not only tragic, but cost Missouri taxpayers approximately $1.4 billion annually. Bringing the Start Fresh Program to these three new states will positively impact many families while creating a broader revenue stream for BioCorRx, Inc.
"We are very pleased with this latest license deal as it creates more distribution points for our program so that more people can be helped. This group currently operates in Nebraska, so their ramp up period should be relatively reduced." said Kent Emry, CEO of BioCorRx, Inc. "Our goal is to have our program conveniently available to everyone and this is another step towards achieving that goal."
About BioCorRx, Inc.
BioCorRx, Inc. (OTCQB: BICX) is an addiction treatment and rehabilitation company on the leading edge of addiction treatment. The company has developed a highly effective program called the Start Fresh ProgramTM consisting of two components used by various addiction clinics in the US. Clinic reports show that the treatment program has an extremely high success rate with individuals that complete the program. The first component of the program consists of an outpatient implant procedure performed by a licensed physician that delivers therapeutic levels of the drug Naltrexone, an opioid antagonist that significantly reduces physical cravings for alcohol and opioids, into the body. The second component of the program developed by BioCorRx, Inc. is a one on one coaching program specifically tailored for the treatment of alcoholism and other substance abuse addictions. For more information on BICX, visit www.BioCorRx.com.
Safe Harbor Statement
The information in this release includes forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "estimate," "become," "plan," "will," and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.
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