MedCare Continues To Grow in Hospital Market
MedCare Program Adds Henry County Hospital
OAK BROOK, Ill.--(BUSINESS WIRE)--April 28, 2000-- Through its wholly-owned subsidiary, MedCare Technologies, Inc. (NASDAQ: MCAR), announced today that it has entered into an agreement with Henry County Hospital, located in Napoleon, Ohio, for its nationally recognized MedCare Program. The MedCare Program is the leading Program for conservative treatment for the millions of incontinence sufferers in the United States. MedCare's conservative treatment is the recommended first approach to treating incontinence. The other alternatives include surgery and pharmaceutical treatment such as those provided by Pharmacia Corp. (NYSE: PHA) (www.pharmacia.com) and Alza Corporation (NYSE: AZA) (www.alza.com).
Henry County Hospital is situated approximately 40 miles west of Toledo, Ohio. Henry County Hospital is the only hospital servicing Napoleon, Ohio and offers a full complement of inpatient, outpatient, rehabilitative, and emergency services.
"This agreement with Henry County Hospital, coupled with our recent announcement with Quorum Health Resources, LLC, positions us for continuous growth and is only the beginning, " said Ray Krauss, Vice President of Business Development for the MedCare Program.
On December 13, 1999, MedCare signed a Strategic Service Partner Agreement with Quorum Health Resources, LLC, the largest manager of not-for-profit hospitals in the United States. The 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 "The addition of Henry County Hospital to our portfolio of hospitals further demonstrates the commitment that our management team has on focusing our sales and marketing attention on the hospital market," comments Jeff Aronin, President and CEO of MedCare Technologies. "The addition of hospitals such as Henry County places us in a better position to show continued growth and improve our bottom line."
Based on studies, it is estimated that incontinence affects upwards of 25 million people in North America, at an annual cost of approximately $26 billion. 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.
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 nation's leading conservative therapy for treating urinary incontinence, a hidden health condition that, at approximately $26 billion, costs more than diabetes and bypass surgery combined.
RxSheets.com (www.rxsheets.com is a business-to-business web site for physicians and pharmaceutical companies. Pharmaceutical companies spend over $17 billion per year on traditional sales tactics, such as personal visits to physicians' offices to drop off sample products. RxSheets.com offers pharmaceutical companies a cost-effective way to present their product samples to the widest possible audience of physicians, ultimately increasing their bottom line. On the flip side, RxSheets.com offers physicians a central location to request product samples, saving time and presenting them with new products and services to treat patients. In addition to offering the ability to request product samples, RxSheets.com offers a wide array of useful information and other features designed specifically for pharmaceutical companies.
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.
Investor Awareness, Inc. is not a brokerage firm or securities dealer, so this is not a solicitation to buy or sell securities, and does not purport to be a complete analysis of MedCare Technologies, Inc. (NASDAQ: MCAR). The material herein was provided by MedCare Technologies, Inc. and is for informational purposes only. Investment in the Company's securities involves a high degree of risk and should not be considered without first reading its most recent financial statements. Investor Awareness, Inc. receives a fee from MedCare Technologies, Inc for marketing services and its owners/employees may from time to time purchase, sell, or have a position in the securities of MedCare Technologies, Inc. For more information contact Investor Awareness, Inc. at 847-945-2222 or visit investorawareness.com www.medcareonline.com. |
