More news
stock recovering!!!!
MedCare Continues "New Model" Growth, Signs Agreement with PHS Mount Sinai Medical Center for MedCare Program
OAK BROOK, Ill., Nov 11, 1999 (BUSINESS WIRE) -- MedCare Technologies,
Inc. (NASDAQ: MCAR) announced today that it has entered into an
agreement with PHS Mount Sinai Medical Center-East, located in
Cleveland, Ohio, for its nationally recognized MedCare Program. The
program is the leading conservative treatment for millions of urinary
incontinence sufferers in the United States. This is MedCare's 4th
treatment site in the state of Ohio.
"Our partnership with Mt. Sinai Medical Center-East should enhance our
market reach in Ohio," said Dean Divjak, Director, Clinical Division.
"Additionally, establishing a relationship with Primary Health Systems
puts us in an excellent position to offer our Program to the facilities
affiliated with this integrated hospital network."
Based on studies, it is estimated that incontinence affects upwards of
25 million people in North America. The MedCare Program is offered as a
comprehensive continually supported program that provides an effective,
non-intrusive treatment for sufferers of incontinence. MedCare provides
the equipment, technology and training to the treatment site, as well
as, ongoing support through its clinical and billing divisions. The
training is all-inclusive in order for a hospital to promote a
successful program, including proven protocols for equipment operation,
community education, billing, managed care and outcomes. In addition,
the Company offers a variety of financing options to the hospital
through a plan developed with American Express Equipment Finance.
"Our sales force continues to make excellent progress in the hospital
and large healthcare provider markets," said Jeff Aronin, President and
Chief Executive Officer. "We are very encouraged by the Mt. Sinai
signing and the recently executed Shreveport, Louisiana agreement. We
are now starting to see the results of our focused and intensive
marketing campaign. We firmly believe that these efforts will be the
catalyst for growth and profitability for MedCare Technologies. MedCare
is the market leader in this growing area, and we have a model that is
being executed profitably and effectively."
In the third quarter, Medcare Technologies signed an agreement with
Aurora Medical Group; part of Aurora Health Care, Wisconsin's leading
not-for-profit health care system.
MedCare Technologies, Inc. is a healthcare technology service company
that focuses on under-served high growth markets. The Company began by
developing the MedCare Program, now the nations leading conservative
therapy for treating urinary incontinence, a hidden health condition
that, at approximately $26 billion, costs more than diabetes and bypass
surgery combined. The Company also recently launched RxSheets.com
(www.rxsheets.com), which offers a wide array of compelling and focused
information and services, including drug sample requests for
physicians, drug protocols and studies, research information, and other
pertinent aspects of the $270 billion worldwide pharmaceutical market.
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance and underlying assumptions and
other statements which are other than statements of historical facts.
These statements are subject to uncertainties and risks including, but
not limited to, product and service demand and acceptance, changes in
technology, changes in insurance reimbursement, economic conditions,
the impact of competition and pricing, government regulation, and other
risks defined in this document and in statements filed from time to
time with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether made
by or on behalf of the Company are expressly qualified by these
cautionary statements and any other cautionary statements which may
accompany the forward-looking statements. In addition, the Company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date hereof. |
