CMPD - .14
July 27, 2009
LOS ANGELES, July 27, 2009 (GLOBE NEWSWIRE) -- CompuMed, Inc. (OTCBB:CMPD) (www.
compumed.net) -- a medical informatics company serving the healthcare community
with diagnostic software solutions -- today announced it has been awarded a new
contract with the New York Department of Correctional Services (NYDOCS). In
addition, the Company has extended its agreements to provide electrocardiogram
(ECG) remote interpretation systems and over-read services for the GEO Group
(NYSE:GEO), the Iowa Department of Corrections (IADOC) and the Nebraska
Department of Correctional Services (NDCS).
NYDOCS awarded CompuMed a new multi-year contract to provide interpretative ECG
services and cardiologist over-reads for approximately 60,000 detainees at 65
correctional facilities statewide. CompuMed has installed 94 state-of-the-art
CardioGram(tm) 707 ECG systems at the NYDOCS facilities.
"NYDOCS is a great fit for us, and we have close to a 100 percent renewal rate
with our large correctional clients, which shows both the need for our ECG
services and client satisfaction with our service as a whole," said Maurizio
Vecchione, CompuMed's CEO. "This high renewal rate will allow us to focus on
additional markets going forward."
Under the terms of the GEO Group extension, CompuMed will continue to provide
remote cardiac screening and over-reads for detainees at 16 select GEO Group
facilities. Based in Boca Raton, GEO Group is a world leader in privatized
correctional and detention services management.
CompuMed will continue to provide ECG services for IADOC's nine facilities,
providing remote cardiac screening on an as-needed basis for more than 8,400
detainees. IADOC owns 10 of CompuMed's CardioGram systems.
CompuMed will continue to provide ECG services and over-reads for detainees at
five of the NDCS correctional facilities.
CompuMed's traditional core business is providing remote ECG interpretation
terminals and related services to medical facilities that may not have access
to
physicians trained and qualified to interpret ECG results. Customers for the
Company's CardioGram system are typically correctional facilities, ambulatory
surgery centers, occupational health clinics and physician offices. The system
reduces healthcare costs significantly by providing remote cardiac screening at
the point-of-care. Another advantage is an optional feature that automatically
sends ECG results to a trained cardiologist for an over-read.
"We are seeing a confluence of telemedicine and electronic medical records, as
well as an increase in providing medical access to remote or isolated sites,"
said Mr. Vecchione. "This puts CompuMed's telecardiology division in an
excellent position for additional growth."
For more information, contact Compumed at 310-258-5000 or www.compumed.net;
CompuMed is on twitter @compumed.
About CompuMed
Founded in 1973, CompuMed, Inc. (OTCBB:CMPD) is a leading provider of computer-
aided telemedicine and diagnostics technology. The Company's core products are
the OsteoGram(r) and CardioGram systems. The OsteoGram, which is cleared by the
FDA for commercial use, is an accurate and precise technology for
cost-effective
osteoporosis testing. The CardioGram system remotely interprets
electrocardiograms and is used by private practice, government and corporate
healthcare providers nationwide. CompuMed is headquartered in Los Angeles.
Visit
CompuMed at www.compumed.net or call (310) 258-5000.
This news release contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking statements include
statements concerning CompuMed's plans, objectives, goals, strategies, future
events or performance and underlying assumptions and other statements that are
not statements of historical fact. These statements are subject to
uncertainties
and risks including, but not limited to, product and service demand and
acceptance, changes in technology, ability to raise capital, the availability
of
appropriate acquisition candidates and/or business partnerships, economic
conditions, the impact of competition and pricing, capacity and supply
constraints or difficulties, government regulation and other risks identified
in
the Company's filings with the Securities and Exchange Commission. All such
forward-looking statements are expressly qualified by these cautionary
statements. In addition, the Company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after the date
hereof, except as required by law.
CONTACT: Tellem Worldwide, Inc.
Susan Tellem
+1 (310) 313-3444
stellem@tellem.com
(TS:CMPD;) |
