Millennium HealthCare Inc. Installs VasoScan Cardiovascular Assessment Test in Select Physician Groups during First Week of Launch
The Company Believes VasoScan could potentially become a Standard of Care with General Practitioners in Conjunction with Blood Pressure and Cholesterol Testing in the Assessment of Cardiovascular Disease
GARDEN CITY, N.Y., Nov. 22, 2013 /PRNewswire/ -- Millennium HealthCare Inc. (OTC Pink: MHCC) today announced that it has installed the proprietary, FDA-cleared VasoScan Cardiovascular Assessment Test in select physician group practices during its first week of launch. These practice groups include primary care physicians who manage a significant amount of patient visits per year.
Dominick Sartorio, CEO of Millennium HealthCare Inc., said, "We are extremely excited about the placement of the first VasoScan units during our launch. We have pre-purchased 100 units and anticipate the pace of our future installations to ramp-up significantly to over 100 units in the coming months. We are pleased to introduce innovative, non-invasive technology that General Practitioners can utilize in identifying patients with cardiovascular disease at an early stage, enhancing their practices with a powerful test normally reserved for specialists."
General Practitioners assess cardiovascular risk using an electrocardiogram (known as an EKG or ECG), cholesterol and blood pressure tests. VasoScan offers another screen that can be used in conjunction with these tests to quickly assess the potential of a patient to develop plaque build-up in their arterial walls. It is a simple, three minute, non-invasive test that can be administered by a nurse or nurse practitioner.
Chris Amandola, President of Millennium HealthCare Inc., said, "According to the Agency for Health Research and Quality, a division of the Department of Health and Human Services of the US Government, in 2010 there were 209,000 practicing General Practitioners with over 500 million annual patient visits. Millennium HealthCare anticipates that VasoScan could potentially become the standard of care among patients visiting General Practitioners. Based on this assumption, we estimate that the potential market size in the United States for VasoScan could reach several hundreds of millions of dollars."
VasoScan is an FDA cleared, non-invasive device that provides a reproducible assessment of arterial elasticity and stiffness which determines plaque levels in the arterial walls. Plaque buildup in the arteries can inhibit blood flow and could lead to stroke and heart attack. The cholesterol plaques of atherosclerosis are the primary cause of heart attacks, strokes, and peripheral arterial disease. These conditions together are called cardiovascular disease. Cardiovascular disease is the leading killer in America, causing more than an estimated 900,000 deaths each year.
VasoScan determines the coronary health of at-risk patients in approximately three minutes. It also assesses the ability of the circulatory system to tolerate emotional and physical stresses. The test utilizes a proprietary algorithm to measure a biomarker called Pulse Wave Velocity. Millennium has an exclusive right to market this product in the United States.
About Millennium HealthCare Inc.
Millennium HealthCare Inc. through its wholly owned operating subsidiaries, distributes innovative medical devices focused primarily on preventive care through early detection to primary care physician practices, physician groups and healthcare facilities. The Company also provides advanced billing & coding services and practice development & management services.
Millennium Medical Devices offers innovative, cost-effective medical devices that are FDA-approved/cleared and fully reimbursable. These devices have the ability to detect medical abnormalities early providing a positive medical outcome for patients. In addition to the VasoScan Cardiovascular Assessment Test to predict plaque buildup in the arterial walls, the Company has a portfolio of preventive and diagnostic tests for oral cancer, breast cancer and an e-wellness program designed to provide full-service physical therapy monitoring in the home.
The Millennium Coding & Billing segment handles medical billing services, medical diagnosis, procedure coding and ICD-10 training. Its Clinical Documentation Improvement Program Services include concurrent and retrospective CDI Reviews, DRG Validation Services and secure remote and on-site coding.
Millennium ProComm specializes in providing services in handling call processes and message management for the medical and healthcare industries, the service and trade industries, and the professional and business industries. High quality call answering and emergency dispatch services are provided with state of the art technology designed specifically to manage call, answering, messaging and paging services in a live, true call center environment.
Its Millennium Vascular Management Group provides physician practice development and management services to AMB-SURG facilities and physician practices with a focus on vascular disorders.
Millennium HealthCare Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Certain written and oral statements made by us may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Forward-looking statements are identified by such words and phrases as "we expect," "expected to," "estimates," "estimated," "current outlook," "we look forward to," "would equate to," "projects," "projections," "projected to be," "anticipates," "anticipated," "we believe," "could be," and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.
SOURCE Millennium HealthCare Inc.
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