I stopped out of my remaining MCAR short when this news broke. Could be a good daytrading long now.
How to succeed in business - just add .com and off you go!
Medcare achieves target of 90 MedCare Program locations nationwide, a 543% increase over previous year
12:58 EST Monday, January 4, 1999
Canada NewsWire
USA Today reports incontinence more prevalent than diabetes and costs
more than dialysis and bypass surgery combined.
MedCare plans launch of incontinence healthcare Internet portal directed
at over 200 million sufferers worldwide; An estimated 46% of all online
users research medical problems on the Internet.
OAK BROOK, IL, Jan. 4 /CNW/ - MedCare Technologies, Inc. (NASDAQ Small Cap: MCAR), developer of The MedCare Program, a proprietary non-surgical and non-drug system for treating individuals suffering from urinary incontinence, today announced that the Company has reached its goal of 90 contracted MedCare Program sites by year end 1998. With over 300 physicians in our system nationwide, the MedCare Program is the largest national conservative treatment system in the United States. "With a growth rate of over 500% in the number of contracted MedCare locations in 1998, we reached our goal of securing a significant share of the market, and in the process, have firmly established ourselves as the leading conservative incontinence system in the country," comments Mr. Jeff Aronin, President and CEO of MedCare Technologies.
"Looking forward, Management's number one priority is building revenues, and continuing to open new MedCare Program sites in select markets to maintain our dominant position. MedCare's early perseverance is now beginning to be rewarded. Just over two weeks ago, the Journal of the American Medical Association reported that behavioral modalities for the treatment of incontinence are far more effective than drugs - exactly what we at MedCare have been saying over the last several years. In fact, the authors of the study stated, 'Behavioral treatment is a safe and effective conservative intervention that should be made more readily available to patients as a first-line treatment.' When one of the most prestigious medical journals in the world reports on the success of conservative treatment for incontinence, it's safe to assume that the general marketplace will soon quickly realize that a better option to drugs, diapers and surgery exists. That's precisely the premise that the MedCare Program was built on. In anticipation, we've built the largest network of offices in the nation, all staffed by extremely capable clinicians under the auspices of some of the best doctors in the country. It is estimated that urinary incontinence affects over 25 million Americans at an annual cost of $26 billion - and we have the best treatment available in the marketplace!"
MedCareOnline.com to be launched as an incontinence specific Internet
portal designed to increase consumer awareness, educate and drive patient
traffic to MedCare sites.
MedCare Technologies today also announced the planned launch of medcareonline.com, an incontinence specific Internet site targeting an estimated 200 million urinary incontinence sufferers worldwide, of which approximately 25 million are in the US. The Company's strategy is to educate and increase awareness amongst millions of sufferers, and in the process, increase patient traffic to its national network of MedCare Program offices. MedCare's unique incontinence specific portal will provide detailed information on bladder health, including types of incontinence, causes, treatment options, chats with physicians, clinicians, patients, and direct links to nearby MedCare offices for treatment. The Company also plans to launch a general health related web site that will provide lay definitions of conditions, links to online vendors of health related products and services, to government and health associations, not-for-profit organizations, and selected online publications. The Company plans to use advanced video streaming technology to produce high quality video and audio presentations that can be viewed using RealNetwork's (NASDAQ: RNWK) RealPlayer or Microsoft's (NASDAQ: MSFT) Media Player. The Company's incontinence specific portal and the general health web site will be featured alongside MedCare's existing internet site, thereby increasing online traffic to and from MedCare. Fueling demand for specialty specific healthcare sites is the current grassroots movement sweeping across the web, with 46% of all online users looking up information about a medical or personal problem according to a recent Intelliquest Inc. survey. According to BusinessWeek, sites such as the Mayo Clinic Health Oasis has grown from 50,000 unique visitors in January of 1998 to over 800,000 in August, and DrKoop.com, which was launched in July 1998, had 400,000 unique visitors in the month of September alone.
Commenting on the planned launch of MedCare's incontinence Internet portal, Mr. Doug Wetzel, a widely followed analyst with Gilbert & Chatterton, Inc. states, "With tens of millions of people suffering in silence and embarrassment, the anonymity of the Internet is the perfect catalyst to draw individuals out of the shadows and into a local MedCare Program office. Combining the unparalleled, lightening fast clout of the Internet to educate and inform incontinence sufferers, to encourage open dialogue amongst physicians and patients is a brilliant move by MedCare. Despite being more prevalent than diabetes, and costing $26 billion annually - more than what is spent on dialysis and heart bypass surgery combined according to USA Today - incontinence remains one of the least talked about conditions in healthcare today. But I'm sure that's going to change - real soon and real fast. With over 200 million worldwide incontinence sufferers, MedCare may well be one of the first to build a health specific community, similar to the likes of Geocities (NASDAQ: GCTY) and The Globe.com (NASDAQ: TGLO), and in the process, give MedCare a unique opportunity to expand its sphere of potential."
Mr. Wetzel continues, "Given the expansive and powerful nature of the Internet, MedCare is once again making all the right moves and using one of the most powerful mediums ever invented. A number of companies that have long been entrenched in traditional retail have recently started offering their goods and services over the Internet with great success. Among those engaged in this new form of commerce include SkyMall Inc. (NASDAQ: SKYM), Ticketmaster (NASDAQ: TMCS), Staples (NASDAQ: SPLS), Egghead.com (NASDAQ: EGGS), and Active Apparel Inc. (NASDAQ: AAGP) to name just a few. Imagine what's going to happen when Internet investors discover that MedCare has virtually no competition, has the largest national network of offices to treat incontinence with a 85% plus success rate without drugs or surgery, and literally has millions of customers just waiting to discover that a cure actually does exist. Add to this the marketing power of a unique incontinence specific Internet portal and what you have is a very exciting investment opportunity."
The MedCare Program does not require FDA approval and is risk free.
MedCare Technologies has developed a cost effective, non-drug, non- surgical and non-invasive system for the care and treatment of patients suffering from urinary incontinence. MedCare's proprietary treatment protocol does not require FDA approval, is covered by most health insurance plans and results in the reduction or complete elimination of the most commonly found urinary incontinence symptoms. Unlike traditional treatment options, which are costly and often unsuccessful or inadequate, MedCare's treatment program is completely risk free and has a three year history with a proven success rate in excess of 85%. MedCare Technologies offers a multi-modality program based on behavioral techniques and neuromuscular electromyography biofeedback. The MedCare Program is designed to mobilize and strengthen various sensory-response systems and is based on operant conditioning strategies whereby specific physiological responses are progressively shaped, strengthened and coordinated. Affecting some 25 million Americans, UI is a $26 billion market and accounts for almost half of all nursing home admissions. Despite being one of the most prevalent medical conditions in health care today, with almost half of all women being affected at some point, UI remains a vastly under-serviced and over-looked market place. |
