OTTAWA, Ontario, Aug. 29, 2016 /PRNewswire/ -- VMS Rehab Systems, Inc. reported today that it will launch an initiative to invest in the burgeoning E-Health segment of the Health Industry as early as the 4th quarter of 2016. The Company has indicated that the proposed transaction will be consummated with the issuance of VMS Rehab Systems stock.
Michael S. Wexler, VMS Chairman, explains that "The E-Health sector is fast growing as it provides user friendly and cost efficient electronic access to, for example, personal medical records on demand and storage of up to date personal medical history, daily monitoring of vital signs for peak personal health, tele-medical services 24 hrs 7 days a week, as well as an E-shop pharmacy to dispense drugs and other healthcare products if as required. These are but several E-Health applications that are working their way through the Health management industry today." Adds Mr. Wexler, "We're talking about a sizeable investment and substantial business opportunity here. According to Research and Markets' North American Healthcare IT Market Report 2013-2017, the North American healthcare IT market is forecast to grow at a compound annual growth rate of 7.4 percent to reach 31.3 billion by 2017."
In 2014, VMS Rehab Systems, Inc. made an investment in the generic pharmaceutical business with the acquisition of an early stage generic drug pharmaceutical, BioPharmcor Sp. Z.o.o. The company's drug unit was subsequently reorganized under Dutch based BioPharmcor B.V., headquartered in Amsterdam, The Netherlands. VMS' drug unit BioPharmcor B.V. is currently developing a generic tadalafil drug product which is recognized as a first line treatment for men suffering from Erectile Deficiency (ED) and Benign Prostatic Hyperplasia (BPH).
Established in 1998, as a Canadian distributor of Home Healthcare products, VMS Rehab Systems, Inc. is headquartered in Ottawa, Canada and maintains affiliate offices in Amsterdam, The Netherlands and Warsaw, Poland. The shares of VMS Rehab Systems, Inc. are listed on the US OTC Pink Current Market (Symbol: VRSYF).
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE VMS Rehab Systems, Inc.