ORLANDO, Fla., Jan. 15 /PRNewswire-FirstCall/ -- WellTek Incorporated (OTC Bulletin Board: WTKN), a global health, fitness and wellness company that is committed to combating chronic neck and back pain, announced today that Pure HealthyBack, Inc., a wholly owned subsidiary, is in advanced discussions with several health plans across the country to adopt and rollout its Pure HealthyBack Program.
More specifically, over the past year, Pure HealthyBack has been implementing a multi-phased plan to ultimately build and operate a national network of medical rehabilitation centers for chronic neck and back pain utilizing MedX medical machines, scientifically proven clinical protocols, and an innovative patient-centric approach that places a keen focus on quality care, measurable health outcomes, and cost savings over the life of the patient. The Program's unique approach effectively manages each patient's condition with long-term value in mind. The overriding mission of the Pure HealthyBack Program is to get patients out of the formal healthcare system's expensive merry-go-round and measurably improve their quality of life.
The game changing innovation of the Pure HealthyBack model is its "bundled-payment approach" that is a big part of the discussion on Capital Hill these days. The Congressional Budget Office (CBO) has estimated that the bundled payment approach would save $19 billion between 2010 and 2019; and according to the New England Journal of Medicine, even greater opportunities exist in bundling payments for treatment of chronic diseases.
Randy Lubinsky, Chairman and CEO of WellTek Inc., stated, "Our objective is to get chronic neck and back pain patients off the medical merry-go-round and out of the formal healthcare system. By bundling services and payments, we provide health plans with the solution to chronic neck and back pain that help to address the nation's concerns: controlling costs, achieving better outcomes and delivering higher quality of care."
There are over 1,500 health plans (both private and public) across the nation covering 175 million insured lives.
About Pure HealthyBack, Inc.
Pure HealthyBack offers a forward-thinking, turnkey program for health plans, large self-insured employer groups, federal government agencies and consumers. Its viable non-surgical treatment helps patients resolve chronic neck and back pain – ailments that cost the U.S. healthcare system as much as $100 billion each year and afflict an estimated 80% of all adult Americans. The Program is designed to provide care based on the needs of the patient, not the system – avoiding costly treatments and procedures that are often unnecessary, unproven and unsuccessful, thereby drastically cutting the costs of claims, improving patient satisfaction and quality of life, and reducing utilization rates. For more information, please visit www.PureHealthyBack.com.
About WellTek Incorporated
WellTek is a global health, fitness and wellness company that provides solutions to help address some of the world's most pressing and costly health challenges—obesity and chronic neck and back pain. The Company's subsidiary, MedX Limited, manufactures, markets and distributes the most advanced medical exercise equipment to the medical and fitness markets. Through its wholly owned subsidiary Pure HealthyBack, Inc., WellTek is redefining healthcare delivery by providing health plans, self-insured employer groups, and consumers with a viable non-surgical, lower cost treatment for patients who are seeking lasting relief from chronic neck and back pain. The Company also owns and operates lime Fitness, Inc., a high-end fitness and exercise studio specializing in lifestyle fitness coaching designed to facilitate life, image and mind enrichment. For more information on the Company, please visit www.WellTekinc.com.
Certain statements contained in this press release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective Company's Securities and Exchange Commission filings, that may cause actual results to materially differ from projections. Although the Company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses, expectations, representations and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the Company's ability to execute properly its business model, to raise additional capital to implement its continuing business model, the ability to attract and retain personnel – including highly qualified executives, management and operational personnel, ability to negotiate favorable future debt facilities and capital raises, and the inherent risk associated with a diversified business to achieve and maintain positive cash flow and net profitability. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group, LLC
Dodi B. Handy, President & CEO (Twitter: dodihandy)
Kathy Addison, VP of Elite Media Group (Twitter: kathyaddison)
407-585-1080 or via email at WTKN@efcg.net
SOURCE WellTek Incorporated