iNeedMD Holdings, Inc. (OTCBB:NEMD) acquired Mediplex Alliances Inc. from Jonathan Loutzenhiser and Darryl Cleveland for $27.5 million in stock on March 16, 2016. Under the terms of the agreement, iNeedMD Holdings will issue 2.5 million shares of common stock upon closing and 2.5 million shares on the six month anniversary of the closing date as consideration. Additionally, upon achievement of the accrued revenue milestones, iNeedMD will issue to Jonathan Loutzenhiser and Darryl Cleveland shares of common stock of NeedMD. Upon revenues reaching $7.5 million, 5 million shares will be issued, upon reaching $15 million in revenue $5 million worth common stock will be issued, upon reaching $20 million in revenue $5 million worth common stock will be issued and upon reaching revenue of $25 million in revenue $5 million worth of common stock will be issued. If, at any time during the twelve months after the closing date, iNeedMD consummates a financing transaction in the amount of at least $1 million and iNeedMD sells or grants any option to purchase any common stock or common stock equivalents entitling any person to acquire shares of common stock of iNeedMD at an effective price per share that is lower than $1, then Jonathan Loutzenhiser and Darryl Cleveland shall be entitled to the issuance of additional shares of common stock of NeedMD in order to maintain their ownership interest solely in the closing shares. Upon closing Jonathan Loutzenhiser will become the President of iNeedMD. The transaction is subject to approval of Mediplex shareholders and the Board of Directors and the Board of Directors of iNeedMD. As on March 16, 2016, the transaction was approved by Mediplex shareholders and the Board of Directors and the Board of Directors of iNeedMD.

iNeedMD Holdings, Inc. (OTCBB:NEMD) completed the acquisition of Mediplex Alliances Inc. from Jonathan Loutzenhiser and Darryl Cleveland on March 16, 2016.