Millennium HealthCare Signs Distribution Agreement with Atossa Genetics
GARDEN CITY, N.Y., May 2, 2013 /PRNewswire/ -- Millennium HealthCare Inc. (OTC Pink: MHCC) today announced that its Medical Device subsidiary signed an agreement with Atossa Genetics Inc. (NASDAQ: ATOS) for the distribution of Atossa's ForeCYTE Breast Health devices, which consist of the patented MASCT pump and ForeCYTE patient collection kits. Millennium has submitted an initial order for 10,000 ForeCYTE collection kits, which it intends to market to managed-care networks, healthcare clinics and physician practices in the New York Metro Area and Northern New Jersey.
Atossa's MASCT system is used by physicians and nurses to collect a small amount of nipple aspirate fluid for analysis by the National Reference Laboratory for Breast Health with the ForeCYTE Breast Health Test.
The ForeCYTE test, intended for the 110 million women in the U.S. ages 18-73, is a painless, quick and non-invasive procedure that can be performed in a physician's office. ForeCYTE can provide vital early detection of cancer or pre-cancerous conditions that may progress to cancer over an approximately eight-year period before cancer can be detected by mammography or other means. Millennium HealthCare, through its wholly-owned operating subsidiaries, provides primary care physicians practices, physician groups and healthcare facilities of all sizes with cutting edge medical devices focused primarily on preventive care through early detection.
Dr. Steven Quay, Chairman, CEO & President of Atossa Genetics, said, "We are extremely pleased that Millennium HealthCare will be distributing the ForeCYTE Breast Health devices to its healthcare practitioners. Millennium shares our passion about providing life-saving diagnostics to its healthcare professionals and we look forward to working closely with the Millennium team."
Chris Amandola, President of Millennium HealthCare, stated, "According to a recent American Cancer Society report, there were over 200,000 new cases of invasive breast cancer among women in 2012. Excluding cancers of the skin, breast cancer is the most common cancer among women, accounting for nearly 1 in 3 cancers diagnosed in U.S.
With over 38 million mammography procedures performed over the past year, our distribution channels are very excited by the prospect that Atossa's non-invasive test can offer physicians a simple and cost-effective preventive care solution to their patients for the early detection of precursors to breast cancer."
Dominick Sartorio, CEO of Millennium HealthCare, added, "Our team continues to explore the marketplace for new medical devices that can have a meaningful impact on improving patient care. Atossa Genetics' management team has done an outstanding job of advancing breast health care through their innovative medical devices and we look forward to a long relationship together."
About Atossa Genetics, Inc.
Atossa Genetics, Inc. (NASDAQ: ATOS), The Breast Health Company™, based in Seattle, WA, is focused on preventing breast cancer through the commercialization of patented, FDA-designated Class II diagnostic medical devices and patented, laboratory developed tests (LDT) that can detect precursors to breast cancer up to eight years before mammography.
In addition to the ForeCYTE Breast Health Test, Atossa markets the ArgusCYTE Breast Health Test, a blood test for recurrence in breast cancer survivors that provides a "liquid biopsy" for circulating cancer cells and a tailored treatment plan for patients and their caregivers.
For additional information, please visit www.atossagenetics.com.
Atossa Genetics Forward-Looking Statements
Forward-looking statements in this press release are subject to risks and uncertainties that may cause actual results to differ materially from the anticipated or estimated future results, including the risks and uncertainties associated with actions by the FDA, regulatory clearances, responses to regulatory matters, Atossa's ability to continue to manufacture and sell its products, the efficacy of Atossa's products and services, the market demand for and acceptance of Atossa's products and services, performance of distributors and other risks detailed from time to time in Atossa's filings with the Securities and Exchange Commission, including without limitation its registration statement on Form S-1 filed April 5, 2013, and periodic reports on Form 10-K and 10-Q, each as amended and supplemented from time to time.
About Millennium HealthCare, Inc.
Millennium HealthCare Inc. through its wholly owned operating subsidiaries provide primary care physician practices, physician groups and healthcare facilities of all sizes with cutting edge medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing & coding services and practice development & management services specializing in cardiology:
Millennium Medical Devices targets partnerships with medical device companies that provide innovative medical devices that are cost effective, utilize cutting edge technology and are FDA approved. The devices the company distributes have been selected due to their ability to detect medical issues early with a positive medical outcome. All of the products the company distributes are reimbursable.
Millennium Coding & Billing offers all aspects of medical billing along with medical diagnosis and procedure coding and training for ICD-10. Our Clinical Documentation Improvement Program Services include concurrent and retrospective CDI Reviews, DRG Validation Services and secure remote and on-site coding.
Millennium Vascular Management Group offers physician practice development and management services to AMB-SURG facilities & 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.