TORON, INC (OTC: TRON) PROVIDES CORPORATE UPDATE REGARDING
PENDING MERGER WITH IMEDSCAN CORPORATION
Toron Inc. to Merge With Disruptive Healthcare Technology Company
MIAMI BEACH, FLORIDA – August 17, 2016 - Toron, Inc (OTC Pink: TRON)
provided its stockholders today with a corporate update regarding the pending merger
with private company, iMedScan Corporation. Pursuant to the definitive Agreement and
Plan of Merger entered into on March 30, 2016 iMedScan will become public through an
alternative public offering or “APO” transaction with Toron. On March 21, 2016, in
anticipation of the closing of the merger transaction during the third quarter of 2016,
Fabrizio Bosticco, the Chief Executive Officer of iMedscan, was also named Chief
Executive Officer, President and Director of Toron.
iMedican is a healthcare project development and management company holding a
proprietary technology that provides for the instant verification of a patient’s medical
insurance. “iMedcan’s proprietary technology will generate a twenty-five (25%)
reduction in patient insurance rejections or denials from insurance payors,” Bostico said.
He continued, “changes in the healthcare industry have considerably lowered profit
margins and increase the costs of healthcare to consumers; we believe our technology
will create significant cost reductions that will benefit both insurers and insureds.”
In March, 2016, iMedScan entered into an agreement with Acuant Corporation of Los
Angeles, California to employ its proprietary, hosted scanning solution on patient’s
driver’s licenses and insurance cards. Most recently, in June, 2016, iMedScan finalized a
test program with Change America, formerly Emdeon Corpoation, utilizing an electronic
data interchange for verifying and validating patients’ health insurance. “We estimate a
fifty (50%) percent net profit recapture from each medical office that adopts our
technology,” Bostico noted. Currently, in addition to traditional medical offices,
iMedScan is focusing on the further development and commercialization of kiosk devices
hosting the company’s scanning solution.
About Toron, Inc. & iMedScan Corporation
On March 30, 2016, Toron, Inc. entered into an definitive Agreement and Plan of Merger
with iMedScan corporation, pursuant to which, upon closing, iMedScan will become a
wholly-owned subsidiary of Toron.
iMedscan Corporation is an innovative disruptive healthcare technology company
focused on integrating access to electronic data interfaces (“EDI”) for healthcare
providers and payor systems in a user friendly manner. iMedScan’s technology provides
ease of use for patients by simplifying their check-in registration process, while at the
same time reducing the healthcare providers’ administrative expenses and lost revenues
by eliminating insurance rejections, denials or any incorrect results arising from
erroneous or incomplete patient information verification. iMedScan’s proprietary
