Millennium HealthCare Signs Exclusive Distribution Agreement with Heart Smart Inc.
GARDEN CITY, N.Y., May 8, 2013 /PRNewswire/ -- Millennium HealthCare Inc. (OTC Pink: MHCC) today announced that its Medical Device subsidiary signed an exclusive distribution agreement with Heart Smart Inc. for the VasoScan assessment device. VasoScan is an FDA cleared, simple, non-invasive device which provides an accurate, reproducible assessment of the Autonomic Nervous System, vascular elasticity and stiffness, as well as the coronary health of "at-risk" patients in less than 5 minutes. The non-invasive test uses an LED/Photodiode finger probe sensor to observe changes in pressure, blood flow and velocity throughout the pulse wave.
Steve Seltzer, CEO & President of Heart Smart Inc. said, "We are impressed with Millennium HealthCare's ability to market to a broad range of physician practices, managed-care networks and healthcare clinics. Their ability to expand device exposure and gain broader market acceptance in this multi-billion dollar market segment was the driving force behind this agreement."
Chris Amandola, President of Millennium HealthCare Inc. stated, "Cardio vascular diseases and stroke accounted for close to 15% of the total health expenditures in recent years. The total cost and the indirect mortality cost estimates for CVD are higher than for any other major diagnostic group. We believe this is a vital area of diagnostic testing for early detection and treatment."
Dominick Sartorio, CEO of Millennium HealthCare Inc. added, "The management team at Heart Smart has successfully brought to market an FDA cleared device that is user friendly, affordable and can be used at the General Practitioner level. My team is very eager to hit the road with the device immediately."
About Heart Smart Inc.
Heart Smart Inc. is a multi-faceted firm recognized as a leading nationwide distributor of diagnostic equipment and technology as well providing reliable and sophisticated Telemedicine and Diagnostic Services.
Heart Smart's product line is centered on state-of-the-art medical devices that enhance diagnostic analysis and provide additional office revenue. Heart Smart has been in this industry for over 40 years and maintains corporate offices in New York and South Florida.
About VasoScan, LLC
VasoScan, LLC is a consortium of physician diagnostic equipment executives who believe that in today's health care environment, it is imperative that we all work together to control costs and increase value in the medical community.
VasoScan LLC was established in response to the alarming statistics of cardiac health of America. In the United States, total cardiovascular disease mortality ranks as the leading cause of death.
VasoScan LLC is combating the deadly statistics of modern living. The founding partners have a combined 120 years of experience in this field.
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 and physician practices with a focus on vascular disorders.
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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.