SurgLine International, Inc. Shareholder Update
WEST PALM BEACH, Fla., June 14, 2012 /PRNewswire/ -- Thomas Toland, CEO of SurgLine International, Inc. ("SurgLine") (SGLN.PK) is providing an update regarding the company's revenue pipeline.
SurgLine International, Inc. acquired SurgLine, Inc. as the result of a merger just nine months ago and as a result of that merger, the new company and its management team has invested a substantial amount of their time and effort in laying the groundwork for the company's unique value proposition to its potential customer base while setting the stage for developing its brand of products to surgery centers and acute care hospitals with its SURG brand and slogan "More Value for your healthcare dollar."
Toland was quoted as saying, "Our management team has focused its efforts on building long term value and revenues for the company and its shareholders.
Let me be very clear on this point, the management team continuously reviews its revenue opportunities and continues to have complete confidence at this time that we expect to materialize as a result from the groundwork that has been invested over our first nine months of operations.
The management team has introduced its products and pricing to the acute care hospitals, hospital systems, the VA hospital system, surgery centers, health plans and others and has without exception been well received. Our typical savings on the aggregate continues to be between 30% and 50% as a general rule, and these savings mean substantial opportunities for the company to capitalize on.It typically takes hospital organizations significant time to make the smallest change to everything they do, and we will patiently wait while they do so, knowing the benefits of such change."
Toland went on to add, "As previously stated in an early press release, the company projected a 10 million dollar revenue run rate by the end of calendar year 2012.We are confident that with our current revenue pipeline of additional programs in process, and previously executed agreements that we will meet the previously stated revenue goal by the end of calendar year 2012.
We are beginning to see the fruits of those efforts coming about in the transaction volume that is beginning to develop for closure over the coming months.
Over the past 60 days the Company has made several important revenue announcements including an agreement to provide its surgical implants to providers in the rural marketplace throughout California, an agreement with an MSO that provides services to surgeons focusing on workers compensation patients known as MedNPV and the rollout of its wholly owned subsidiary to pursue joint venture opportunities with surgeons related to cost containment strategies in hospitals and surgery centers and the acquisition of a trauma product line company.
These earlier announcements will begin to work into the revenue line as we continue to work with the parties integrate our products into those previously announced transactions."
Toland concluded by saying, "SurgLine is completely committed to developing the most successful value based surgical implant company in the industry while generating substantial revenues and earnings in months and years to come. We also want to reiterate that those who invest in the early stages of our story will be rewarded for their patience and persistence."
On another note, Toland was quoted as saying, "The executive team and founders returned 1 billion shares back to the treasury a few months ago and management extended its lock up of their remaining shares an additional six months as a clear message of its confidence in what it believes to be a tremendous long-term winner and to invest in new opportunities. We are aligned alongside our long term shareholders and will continue to do whatever it takes to build value, revenues and earnings for SurgLine International, Inc."
About SurgLine, Inc.
SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self-insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup.
About SurgLine International, Inc.
SurgLine International, Inc. is a holding company that in addition to SurgLine, wholly owns Nuvo Solar Energy, Inc., a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company is also seeking other business opportunities.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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