AmeriNet Partners with Vasomedical to Provide EECP Therapy Systems to its Member Network
WESTBURY, N.Y.--(BUSINESS WIRE)--Dec. 13, 2000--Vasomedical, Inc. (Nasdaq: VASO) announced today that it has been selected by AmeriNet, Inc., one of the nation's largest health care group purchasing organizations (GPO), as a provider of EECP(R) Enhanced External Counterpulsation therapy systems. The three-year contract is Vasomedical's first such arrangement with a national GPO, and makes EECP systems available to AmeriNet's approximately 15,000 members. The contract is to take effect January 1, 2001.
EECP is a non-invasive, outpatient therapy that utilizes pneumatic cuffs to compress the lower extremities in time with a patient's heartbeat. The therapy reduces angina symptoms by decreasing the heart's workload and improving circulation in areas of the heart deprived of adequate blood supply. The treatment has been scientifically validated over the past several years, and has been approved for Medicare reimbursement by the Health Care Financing Administration.
As a GPO, AmeriNet negotiates preferred pricing contracts with leading health care suppliers on behalf of its member facilities. EECP was selected by AmeriNet to augment the offerings of its innovative Cardiology Clinical Services Program, a clinically driven disease management program that provides negotiated contracts for all the necessary resources required by physicians to manage patient needs in all areas of cardiac care. EECP is an important part of the AmeriNet cardiac care portfolio, and will be offered to AmeriNet members through AmeriNet's shareholder organizations and nationwide staff of 80 field representatives and clinical consultants.
"AmeriNet's inclusion of EECP in its Cardiology Clinical Services Program offerings enhances our own efforts to promote awareness of EECP within the health care industry as a whole," said D. Michael Deignan, CEO of Vasomedical. "This partnership provides us with a strong platform to accelerate the acceptance of EECP among practicing cardiologists as a therapeutic modality for the treatment of cardiovascular disease."
"Our clinical service program for cardiovascular services is designed to address cost control of specific disease processes," said Janie Thomas, Vice President, Clinical Services Program for AmeriNet. "EECP therapy shows great promise as a cost effective, non-invasive treatment for coronary artery disease, and is an important addition to our cardiac care offerings."
Founded in 1986, AmeriNet, Inc., headquartered in St. Louis, operates through its three shareholder health care organizations: AmeriNet Central, Intermountain Health Care, Inc. and Vector. It represents approximately 15,000 member facilities in all 50 states, including hospitals, medical group practices, nursing homes, surgery centers, managed care organizations, pharmacies and integrated delivery networks.
Vasomedical, Inc. is primarily engaged in designing, manufacturing, marketing and supporting external counterpulsation systems based on the company's proprietary technology. EECP(R) is a registered trademark for Vasomedical's enhanced external counterpulsation system. This system is now in use at major medical centers, including the Mayo Clinic, the Ochsner Foundation Hospital and the Miami Heart Institute, as well as medical centers affiliated with Columbia University, the University of Pittsburgh, UMDNJ - New Jersey Medical School, the University of California at San Diego, the University of California at San Francisco, State University of New York at Stony Brook and the University of Virginia. The company provides hospitals, clinics and private practices EECP(R) equipment, treatment guidance and a staff training and maintenance program designed to provide optimal patient outcomes. Except for historical information contained in this release, the matters discussed are forward looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believe," "estimate," "expect" and "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization or technological difficulties; the regulatory and trade environment; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
CONTACT: Vasomedical, Inc.
D. Michael Deignan, President & CEO
516/997-4600 Ext. 155
Douglas A. Goldman, VP of Marketing
& Business Development
516/997-4600 Ext. 163
www.vasomedical.com
or
Investor Relations Contact:
The Equity Group, Inc.
Devin Sullivan 212/836-9608
www.theequitygroup.com |
