Here is the good news:
Friday January 2, 6:30 am Eastern Time
Company Press Release
SOURCE: MedCare Technologies, Inc.
MedCare Expands Further Into Florida With 2 New MedCare
Program Sites, Ending 1997 With 14 Locations and Ahead of
Schedule;
65 Additional Centers Now Planned for 1998
Foundation in Place for Growth in 1998: New Managed Care Division, Sophisticated
Billing Infrastructure, Clinical Regional Managers and New Specialty Sales Force
NAPERVILLE, Ill., Jan. 2 /PRNewswire/ -- MedCare Technologies, Inc. (OTC Bulletin Board: MCAR - news),
developer of The MedCare Program, a proprietary non-surgical and non-drug system for treating individuals suffering
from urinary incontinence, today announced plans to establish two additional MedCare Program sites in Coral Springs,
FL, in conjunction with Dr. Michael Lazzopina, and in Lakeworth, FL, under the auspices of Dr. Mark Lieberfarb. The
addition of these two centers brings the total number of national MedCare Program sites opened or in the process of
being established to 14, ahead of the 12 originally planned for 1997. In 1998, the Company plans an additional 65
locations across the United States. ''MedCare is now strategically situated to take advantage of a $16 billion, virtually
untouched marketplace,'' said Mr. Harmel S. Rayat, Chairman and CEO of MedCare Technologies. ''Hundreds of
individuals have now been through the MedCare Program without the potential of risk or side effects associated with
current treatment alternatives such as surgery or drugs. With an almost 90% success rate, the Company has quickly
become a leading enterprise in the field of non-traditional incontinence treatment and we're now poised to grow rapidly
by adding upwards of 65 sites this year in regions where demand is highest.''
Corporate Infrastructure in Place To Support Strong Growth in 1998
To facilitate the opening of 65 new MedCare Program sites during 1998, and to support presently operating centers, a
number of forward thinking initiatives have been put into place:
Managed Care Division -- MedCare's new Managed Care Division has been established to ensure
reimbursement for the millions of incontinent sufferers who are part of a managed care program. ''While
MedCare is currently being reimbursed by most managed care plans now, we want to be in a stronger position
to further develop new innovative approaches for reimbursement for this rapidly growing sector,'' said Mr.
Greg Wujek, Vice President of MedCare's Managed Care Division. ''As our system moves more and more
patients from Medicare to managed care plans, MedCare Technologies will be there to take advantage of this
growing trend.''
Specialty Sales Division -- To add new MedCare Program sites without significant additional sales and
marketing costs, MedCare has contracted with several specialized regional sales and marketing companies.
''MedCare's Specialty Sales Division will focus exclusively on the top urological and gynecological practices
in targeted regions of the country at a fraction of the cost of having our own sales team and infrastructure,''
states Mr. Jeff Aronin, President and COO of MedCare Technologies. ''Among MedCare's specialty sales
force are some of the best trained reps in the urology and gynecology markets, with an average of 15 to 20
years of experience, and strong established relationships with MedCare targeted physicians.''
In the mid-Atlantic region, MedCare has added Pivar and Associates, a knowledgeable sales and consulting group with
over 25 years of urology experience. In the northeast region, MedCare has contracted with Medithon Health Systems.
''We are very excited to represent the MedCare Program. I have seen almost every program and product to come to this
market in the past 28 years, and have rarely seen a program that is so needed by patients and that works so well as the
MedCare Program,'' remarks Mr. Bill Shutze, President of Medithon Health Systems. ''In today's physician practice,
a program like this makes perfect sense. Every urologist I have presented the MedCare Program to has committed to it
thus far. It's because it's good medicine and good business.''
Billing and Collections -- MedCare Technologies has contracted H.L. Billing Consultants, a highly regarded
national medical billing company, to ensure the integrity and efficiency in its billing and collection protocols
and enhancing cash flow through rapid and accurate collections.
Regional Managers -- A regional manager will be placed into each of MedCare's six regions in the United
States. Regional managers will be responsible for maintaining the clinical integrity of each MedCare Program
site, business development, and act as a liaison between regional MedCare Program sites and MedCare's
corporate head office. ''When corporations grow as rapidly as MedCare, they may lose focus of what made
them successful in the first place,'' states Ms. Valerie Boeldt-Umbright, Director of Clinical Services at
MedCare. ''Our regional managers are in place to allow us to grow and still have the best qualified, trained,
and motivated clinicians in each site.''
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.
For additional information, contact Mr. Bill Mann at 800-611-3388 or visit our website at medcareonline.com.
SOURCE: MedCare Technologies, Inc.
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