ADVANCED ORTHOPEDIC TECHNOLOGIES ANNOUNCES PREFERRED PROVIDER AGREEMENT WITH HEALTH INSURANCE PLAN OF GREATER NEW YORK; Company To Provide Orthotic and Prosthetic Services To Nassau, Suffolk and Queens.WEST HEMPSTEAD, NY--Aug. 14, 1995--(BUSINESS WIRE)--Advanced Orthopedic Technologies, Inc. (Nasdaq Small Cap Issues: AOTI AOTI Association of Occupational Therapists of Ireland ) ("AOTI") today announced that it has signed an agreement with Health Insurance Plan of Greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ("HIP") under which AOTI will be the preferred provider of orthotic orthotic /or·thot·ic/ (or-thot´ik) serving to protect or to restore or improve function; pertaining to the use or application of an orthosis. or·thot·ic adj. Of or relating to orthotics. and prosthetic pros·thet·ic adj. 1. Serving as or relating to a prosthesis. 2. Of or relating to prosthetics. prosthetic serving as a substitute; pertaining to prostheses or to prosthetics. ("O & P") services to HIP members in Nassau and Suffolk counties on Long Island and Queens, New York. The contract took effect on August 1st. Andrew H. Meyers, President and Chief Executive Officer of AOTI commented, "In addition to strengthening AOTI's leadership position in the Greater New York area, we feel this agreement validates our corporate strategy of achieving a strong presence in those regions where we provide services. We also view this relationship as an opportunity to showcase AOTI's products and services to other managed care organizations." Mr. Meyers continued, "Concurrent with the commencement of services, and to support the anticipated increased patient flow from this contract, we have opened two new offices in Queens and one new office on Long Island. These new offices will expand the area in which we can provide O & P services under existing managed care contracts. By introducing our services to new physician referral physician referral A physician's recommendation to a Pt to consult another physician for a 2nd opinion. Cf Self-referral. sources who participate in these managed care contracts, AOTI hopes to attract the private-pay patients of these medical professionals, as well. "We are also pleased to announce that in response to growing demand, AOTI is now offering post-mastectomy services in all of its outpatient care centers in the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. . This new department is under the direction of Donna Lew, Coordinator of Mastectomy mastectomy (măstĕk`təmē), surgical removal of breast tissue, usually done as treatment for breast cancer. There are many types of mastectomy. In general, the farther the cancer has spread, the more tissue is taken. Services. Ms. Lew has over 7 1/2 years of experience in mastectomy care and we are confident that she will provide outstanding leadership as we embark on this new endeavor." Health Insurance Plan of Greater New York (HIP) is a not-for-profit health maintenance organization founded in 1944. Together with its affiliated plans in New Jersey and Florida, it forms one of the largest not-for-profit HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, systems in the eastern United States, serving approximately 1.1 million members in the five boroughs of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Nassau and Suffolk Counties on Long Island, Westchester, Rockland and Orange Counties, New Jersey and Florida. Advanced Orthopedic Technologies is one of the nation's leading providers of patient care services to the orthotic (design, fabrication and fitting of custom-made braces and other devices) and prosthetic (design, fabrication and fitting of artificial limbs) rehabilitation markets. Currently, the Company operates 34 patient care centers in California, New Mexico, New Jersey, New York, Virginia and West Virginia. CONTACT: Advanced Orthopedic Technologies Andrew H. Meyers, Chief Executive Officer (516) 481-9670 or The Equity Group Inc. Devin Sullivan (212) 836-9608 Robert Goldstein (212) 371-8660 |
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