I added to my position today (I hope/pray this is not premature!) as MedCare is starting to show revenues.
Thursday March 18, 11:22 am Eastern Time
Company Press Release
MedCare Program Revenues Increasing 35 Percent Per
Month
OAK BROOK, Ill.--(BUSINESS WIRE)--March 18, 1999--MedCare Technologies, Inc. (Nasdaq:MCAR - news), 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's system-wide revenues are increasing at a rate of approximately 35 percent per month during the first quarter of 1999.
''At the end of 1998, MedCare announced that we had reached our target of 90 contracted MedCare Program sites with over 300 physicians, making us the largest national conservative treatment system in the US,'' comments Mr. Jeff Aronin, President and CEO of MedCare Technologies. ''Despite opening the majority of these locations during the first two quarters of 1999, we have grown from 585 visits in January, 965 in February and an expected 1,200 in March. At this level of growth, we'll surpass the 6,000 per month patient visit mark by the last quarter of 1999.''
ABOUT MEDCARE
MedCare Technologies is the developer of The MedCare Program, a non-drug, non-surgical system for the care and treatment of
patients suffering from urinary incontinence. 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. Unlike traditional treatment options, which are costly and often unsuccessful or inadequate, MedCare's
treatment program is completely risk free and has a proven national success rate in excess of 85 percent. In association with over 300
physicians, MedCare has the largest network of offices treating UI in the US.
MedCare Technologies, through its wholly owned subsidiary medcareonline.com, Inc., has also developed www.medcareonline.com as
a comprehensive healthcare portal offering extensive medical information. Unlike portals operated by Infoseek (Nasdaq:SEEK - news),
Go2net (Nasdaq:GNET - news) and Excite (Nasdaq:XCIT - news) that provide broad based access to general Internet information,
medcareonline.com offers over thousands of direct-to-consumer ''health-specific'' information resources, such as health travel
advisorcations, and extensive research and web based services for the some 750,000 US physicians.
The Company is also developing an e-commerce component, which will feature a wide range of health related products and services,
and plans to launch an online health magazine with content, features and information on a wide range of health topics, including fitness
and nutrition, drugs and medications, women's health, men's health and the latest healthcare and medical news. MedCare's new online
magazine will allow subscribers to customize content specific to their own unique health needs and interests, and will also be enriched by
the streaming of audio and video content. The availability of streaming media content in the online magazine has been made possible by
the development of Internet audio and video streaming technology to near broadcast quality by such companies as RealNetworks, Inc.
(Nasdaq:RNWK - news), @home (Nasdaq:ATHM - news), and InterVU Inc. (Nasdaq:ITVU - news). InterVU's services have been
used by a number of leading Internet corporations, including DoubleClick (Nasdaq:DCLK - news), Lycos (Nasdaq:LCOS - news) and
Yahoo! (Nasdaq:YHOO - news).
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.
Contact:
MedCare Technologies, Inc., Oak Brook
Mr. Bill Mann, 800/611-3388
Website: www.medcareonline.com |
