sw - finally..MCAR could very well run on today's news: (25% gain @ close)
Monday December 13, 1:53 pm Eastern Time
Company Press Release
MedCare Signs Agreement with Largest Manager of
US Not-For-Profit Hospitals-Quorum Health
Resources,LLC
OAK BROOK, IL.--(BUSINESS WIRE)--Dec. 13, 1999--MedCare Technologies, Inc. (NASDAQ: MCAR - news) announced
today that it has signed a Strategic Service Partner Agreement with Quorum Health Resources, LLC, the largest manager of
not-for-profit hospitals in the United States. This Agreement designates the MedCare Program as the primary provider of hospital
based programs providing conservative treatment of urinary incontinence for its affiliated facilities.
Quorum Health Resources manages approximately 214 hospitals and provides consulting services to more than 180 additional
hospitals and has operations in 44 states and the District of Columbia.
Quorum Health Resource's Strategic Partner Program is designed to identify companies in designated service areas and to partner
with such companies to provide access to these services at a competitive price to its affiliated facilities. There are presently 44
such Strategic Service Partner relationships in place.
''Since launching our new business hospital model, this is the most significant partnership we have put in place,'' said Jeff Aronin,
President and Chief Executive Officer. ''This three-year agreement clearly demonstrates the credibility and interest level that our
Program has achieved in the hospital market. We believe that the signing of this agreement provides us with an excellent
opportunity to pursue additional national agreements, maintain our market leadership position and enhance our overall marketing
efforts. Furthermore, it should allow us to grow and expand our incontinence treatment business at a faster pace and create
additional opportunities for our RxSheets.com business.''
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.
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. |
