GenoMed, Inc. Signs Letter of Intent With Leading Healthcare Management Company
ST. LOUIS, June 6 /PRNewswire-FirstCall/ -- GenoMed, Inc. ("the Company" or "GenoMed") (National Quotation Bureau's Pink Sheets Symbol GMED), a St. Louis, Missouri-based medical genomics biotechnology company, announced today that it has signed another Letter of Intent to license its ACE inhibitor treatment regimen to the physicians under management by Parks HealthCare, Inc. Parks HealthCare is a healthcare management company serving 1,800 physicians located in Arizona and New Mexico.
Parks HealthCare was founded in 1985 by Sue Parks, R.N., and is a leading physician management company specializing in group purchasing for physicians located in the Southwestern United States. According to the Letter of Intent, Parks HealthCare would offer GenoMed's treatments to its physicians, who would then provide GenoMed's treatments to their patients under GenoMed's close supervision.
Sue Parks, President and CEO of Parks HealthCare, stated that "GenoMed's program is an extremely exciting offering for the Phoenix market where we have a broad diversity of demographics including the important category of aging baby-boomers and snow-birds. Our physicians are committed to improving patient outcomes at all stages of life and are looking for programs that can support this commitment. GenoMed's regimen can clearly deliver outcomes. The exciting part is that patients will seek out our physicians based upon this arrangement. It is a win-win for our physicians and the general patient population."
Dr. David Moskowitz, GenoMed's Chairman and Chief Medical Officer, stated, "We are extremely pleased to have Parks HealthCare join the growing number of physician organizations participating in GenoMed's licensing program. The fact that large physician organizations are joining our licensing program is a validation of our mission, our treatments and our scientific and business approach. Parks HealthCare's physicians currently care for hundreds of thousands of patients, many of whom will be eligible for GenoMed's treatments. This and our other collaborations will generate licensing revenues for GenoMed. As with all of our revenue sources, we will dedicate them to the discovery of new disease genes."
GenoMed, Inc. is a medical genomics company whose mission is to improve patient outcomes by identifying genes that cause disease. A recent St. Louis Business Journal article (http://www.stlouis.bizjournals.com/stlouis/stories/2002/05/13/story8.html) reported that the company has applied for patents based on its finding that the ACE gene is associated with nearly 40 common, age-related diseases. The Company has filed patent applications on its new treatments for both human and veterinary use. A video version of the company's treatment results for chronic kidney failure is available at 216.234.225.2.
Consistent with the Company's goal to improve patient outcomes globally, GenoMed is currently working to license its treatments to physicians and healthcare systems worldwide. In May, GenoMed announced an agreement with Saint Louis Management Group representing more than 3,800 physicians, genomedics.com.
GenoMed also recently held a press conference at La Clinica Health Center (3646 Fairview Ave., St. Louis, MO; tel. 314-664-5565) to discuss licensing the same treatment to La Clinica for its Hispanic population, who have a 50% prevalence rate of diabetes. The press conference was held jointly with Lieutenant Governor Joe Maxwell, who encouraged senior citizens to sign up for Missouri Senior Rx Program, and urged improvement in minority health outcomes.
For questions, please contact Krissy Fischer, tel. 1-877-GENOMED, FAX 314-977-0042, email: kfischer@genomedics.com, or visit GenoMed at genomedics.com.
SOURCE GenoMed, Inc.
CONTACT: Krissy Fischer of GenoMed, Inc., +1-877-GENOMED,
fax: +1-314-977-0042, kfischer@genomedics.com/
Web site: genomedics.com
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