Received this news release today through Canada Stockwatch.
Footmaxx letter of intent with OrthoScript and OrthoLink to take effect
Footmaxx Holdings Inc FTMX
Shares issued 34,766,224 Sep 7 close $0.38
Wed 8 Sept 99 News Release
Mr. John Fowler reports
The signing of a letter of understanding with OrthoScript Inc. of
Alpharetta, Ga., and OrthoLink Physicians Corporation of Brentwood, Tenn.,
calls for Footmaxx to be the sole supplier of technology, computerized gait
analysis and orthotic products. The letter of understanding takes effect
Sept. 15, 1999.
OrthoScript Inc. operates a practice management program for professional
medical corporations. The practice management program is a joint venture
between OrthoScript and all OrthoLink owned practices assisting in CPM
(continuous passive motion) therapy service that provides bracing and
orthotics for OrthoLink patients.
OrthoLink Physicians Corporation is a physician practice
management/ancillary development medical corporation; operating 62
orthopedic clinic offices and surgery centres in the United States,
providing its patients with preventative orthopedic services, orthopadic
surgery services and postoperative physical therapy services. OrthoLink
desires to increase its quality of care and provide for the continuity of
care for its patients who need continuous passive motion machines,
functional knee braces, and custom foot orthotics.
Twenty-three locations have been targeted for 1999 startup, and technical
training will begin in September. The potential orthotic volume per site is
approximately 10 times the company's current average.
Footmaxx continues to enjoy great success and has now installed 605 systems
with U.S. podiatrists in just over two years. This successful negotiation
to partner with OrthoScript to supply the high volume OrthoLink medical
centres confirms Footmaxx as the frontrunner in orthotic therapy.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com |
