Try and scale it down and see if you can still read it, I'm betting good money that you can't

I also think the spacing around the symbol (that I don't get, what is it supposed to be?) is a bit extreme, it reads PR O FITMEDICAL. Also, a few typical logo-questions:
- Does it work in black and white?
- Is this just going to be used for web or is it going to be printed too?
- What kind of business is this?