Or is it the upgrade from Dutton???
NEW YORK, Nov 22, 1999 (BUSINESS WIRE) -- A Quarterly update report
covering MedCare Technologies, Inc. (Nasdaq: MCAR) by PAR Analyst John
M. Dutton was released today for Public Analysis & Review (PAR). PAR is
the unique professional independent security analyst program
administered by the non-profit Investors Research Institute, Inc., and
Investrend Research distributes the PAR program reports. According to
Gayle Essary, Investrend Research president, Mr. Dutton established a
NEUTRAL rating on the stock. However, Mr. Dutton noted, this rating
would be increased to BUY if their new business model for the MedCare
Program and Rxsheets.com is able to produce expected results in the
next several months. A copy of the Quarterly Review Report, also in
Adobe pdf format, is available from the Investrend web site at
www.investrend.com.
A summary of Mr. Dutton's conclusions follows: A NEUTRAL rating on the
shares of MedCare rating reflects the lack of positive operating
results since May, with reported results substantially below our
projected levels. However, we note that there have been many
potentially positive changes to the Company's business models. As
results under the new models become apparent, the neutral stock rating
will be revisited. MedCare Technologies and its MedCare program, is the
largest program using behavioral modification to treat incontinence.
This approach is endorsed by the AMA and the US Dept. of Health
Services. The Company has now targeted the hospital market as the
primary market to base its MedCare Program. Two excellent hospitals as
of this date have signed with MCAR. Management believes it will shortly
announce a third. We believe they are on the right track. By any
measure, the incontinence treatment market is in billions of dollars
annually. The MedCare Program benefits all concerned, patient, doctor,
and insurance provider. The market is untapped except for the less
desirable alternatives of pharmacological and surgery.
In the middle of changing its MedCare Program business model, major
changes were made to its original Internet based program,
Medcareonline. This was replaced with an interesting physician service
called Rxsheets.com announced during the recent quarter. Results in the
form of partnering with drug companies are expected in the next several
months.
The present NEUTRAL rating on the stock reflects the need of the
Company to demonstrate results under its new business models. We
believe the Company may at last be on the right track, in which case
the stock rating will be revisited.
|
