Having trouble viewing this email Click here http://campaign.r20.constantcontact.com/rendercac56f29-ec59-49bb-a5ba-aebd536825ef&c=c9179ec0-b5c5-11e3-a215-d4ae5292c4bc&ch=c9fcf5b0-b5c5-11e3-a265-d4ae5292c4bc Millennium Healthcare Inc. (MHCC) ~~~~~~~~~~~~~~~~~~~~~~~~~~
Millennium Healthcare Inc. (MHCC), through its wholly owned operating subsidiaries, provides primary care physician practices, physician groups and healthcare facilities of all sizes with medical devices focused primarily on preventive care through early detection. MHCC also provides advanced billing and coding services, and practice development and management services.
MHCC announces that it expects record Q3 revenue On Wednesday morning, MHCC announced that “revenues for the three months ended September 30, 2014 are expected to be in excess of [$6M].” This represents significant growth compared with revenue of $490,000 for the comparable 2013 period, and was largely the result of the initial roll out of MHCC`s medical device distribution model, according to the Oct. 29 press release.
During the quarter MHCC began the commercial introduction of its first two distributed medical device products, namely VasoScan(TM), a cardiovascular diagnostic assessment test, and OralCDx(TM), a non-invasive brush biopsy kit for oral cancer. According to the Oct. 29 press release, MHCC intends to continue its model and mission of evaluating early detection and diagnostic devices and continually looks to add and provide additional products to its medical device lines available for distribution.
“Following successful beta testing in June, we began the initial roll out of the VasoScan and OralCDx products to a small portion of our current network of approximately 1,300 primary care physician offices located along the U.S. East Coast,” said MHCC`s chief operating officer David Perry in the Oct. 29 press release. “Physician acceptance, measured by utilization as well as reorder rates, was well above our initial expectations so early in the launch process; and we are extremely pleased with the recognition by our early customers of the role these products can play in preventive care and in medical practice economics. We look forward to continuing a managed introduction of these products via our direct sales force and, in time, via sub-distributor partners with the ultimate goal of nationwide coverage.” MHCC expects to report full financial results for the third quarter, and to hold its first quarterly investor conference call in mid-November, the Oct. 29 press release stated.
New sales, marketing and distribution agreement Last month, MHCC announced that its subsidiary, Millennium Medical Devices, executed a sales, marketing and distribution agreement with MDbizWorx, a Florida based provider of ancillary medical services that serves private physician practices, Accountable Care Organizations (ACOs) and hospitals through a seasoned national marketing and sales force. MDbizWorx currently serves over 10,400 active Physician Purchasing Accounts that include a network database of over 300,000 physicians.
The sales team at MDbizWorx has developed and cultivated relationships throughout the healthcare industry with medical and healthcare organizations in multiple US markets, a Sept. 30 press release stated. The company provides ancillary medical services such as; Allergy Testing and Therapy, A.N.S. Testing, Toxicology Screening, Pharmacogenetics, Pharmaceutical Dispensing, Injection Kits, Advanced Lipid Testing, HIPAA Compliance Services and ICD-10 Training.
“Introducing Millennium`s product offering to the experienced team at MDbizWorx is anticipated to provide a significant addition to Millennium`s current network of 1,300 physician practice and healthcare clients,” Perry said in a Sept. 30 press release. “The proprietary technology combines clinical value with potentially strong revenue enhancement for participating physician and healthcare practices. MDbizWorx will help us potentially reach more physicians and practices in new geographical areas. Strategic alliances and partnerships with companies like MDbizWorx help Millennium Medical Devices build the platform for a national rollout of exclusive technologies.” Looking ahead “We believe our third quarter revenue represents the beginning of a significant growth trend for our business, and given our current commitments, we anticipate being able to report significant quarterly revenue for the fourth quarter as well,” said MHCC`s CEO Dominick Sartorio in the Oct. 29 press release. “We believe the industry trend toward early detection diagnostics, combined with our distribution model, highly experienced leadership team, and our exclusive agreements with suppliers are the driving contributors to our current and future success.” To learn more about MHCC, visit: http://millenniumhcs.net Disclaimer:
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The information contained on our website or in any of our newsletters is for informational purposes only, and is not intended to be advice, nor a recommendation and/or guidance for investment decisions. In preparing our publications, we rely upon publicly available information including press releases which we believe to be reliable, but have not verified. We are engaged in the business of profiling companies for monetary compensation.
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