Advanced Health Launches New Cardiovascular Clinical Research Initiative With Leading Cardiovascular Investigators.TARRYTOWN, N.Y.--(BUSINESS WIRE)--Nov. 6, 1997--Advanced Health Corporation (Nasdaq:ADVH), in collaboration with a group of leading cardiovascular specialists, today announced the launch of a new company, ACRM ACRM American Congress of Rehabilitation Medicine ACRM Analytical Customer Relationship Management ACRM Airborne Collection Requirements Message ACRM Asbestos Containing Roof Material ACRM Australasian Compliance Risk Management , Inc., which will provide advanced cardiovascular research management. ADVH has provided $3.5 million in initial seed capital through a $1.0 common stock equity investment for a minority interest in ACRM and $2.5 million in convertible debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. . ADVH will be providing business and information management services for ACRM. The physician founding members - Drs. Antonio Columbo, Martin Leon, Jeffrey Moses, and Gary Roubin - are internationally recognized leaders in cardiovascular research, particularly in the field of cardiovascular intervention. Drs. Jeffrey Moses, Antonio Columbo, and Gary Roubin practice at Lenox Hill Hospital Lenox Hill Hospital, on Manhattan's Upper East Side, is a 652-bed, acute care hospital and a major teaching affiliate of NYU Medical Center. Founded in 1857 as the German Dispensary, today's 10-building Lenox Hill Hospital complex has occupied its present site since 1868 when it in 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. , and ADVH currently manages their practice. Dr. Columbo also maintains an active practice at the Columbus Hospital in Milan, Italy. Martin Leon, MD practices at the Washington Heart Center in Washington, D.C., where he is also Chief Executive Officer of the not-for-profit Cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. Research Foundation. The combined practices of these founding physicians currently perform over 15,000 invasive invasive /in·va·sive/ (-siv) 1. having the quality of invasiveness. 2. involving puncture of the skin or insertion of an instrument or foreign material into the body; said of diagnostic techniques. vascular vascular /vas·cu·lar/ (vas´ku-ler) 1. pertaining to vessels, particularly blood vessels. 2. indicative of a copious blood supply. vas·cu·lar adj. procedures annually. ACRM co-founder Martin Leon, MD commented, "ACRM's mission is to advance cardiovascular research. We are excited about bringing together the clinical research activities of a number of leading cardiovascular centers with the hope of increasing the capacity and quality of research that we perform. ACRM provides the business infrastructure to achieve this goal. This is just the beginning. We fully expect to bring in other investigators and centers as partners in this initiative as we build a critical clinical research management infrastructure." ACRM co-founder Jeffrey Moses, MD noted, "We will start by integrating the clinical research site management of our respective centers. Over the next two to three quarters, we will explore potential partnerships with other investigators and sites, the pharmaceutical and device industry, as well as clinical research organizations. During this time, we will detail the exact scope of clinical research management activities that ACRM will undertake and how that work will integrate with others in the industry." Commenting on this initiative, Jon Edelson, MD, Advanced Health's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "We are proud to be business partners with such an internationally-renowned group of clinical investigators A clinical investigator involved in a clinical trial is responsible for ensuring that an investigation is conducted according to the signed investigator statement, the investigational plan, and applicable regulations; for protecting the rights, safety, and welfare of subjects under . We believe that Advanced Health's core strengths in physician practice and information management will serve this effort well. Integrating clinical research activities into a physician's practice can contribute meaningfully to its success and growth. We believe that ACRM will provide an effective means to support and grow the clinical research activities of Advanced Health's over 500 affiliated cardiovascular specialists." Advanced Health Corporation is a leading physician practice management company that vertically integrates practice and network management services with clinical information systems. Unlike other physician practice management companies, Advanced Health partners with - instead of purchases - physician group practices, thereby maintaining physicians' independence and providing the optimal incentives to achieve practice success. ADVH provides physician practice and network management and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" through its Advanced Health Management subsidiary and currently serves over 1,800 physicians. ADVH provides clinical information systems through its Advanced Health Med- E-Systems' subsidiary; these systems provide physicians with patient-specific clinical and health plan information at the point of care to improve the quality and reduce the costs of health care. -0- Editor's Note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : This release is also available on the Internet at http://www.advhealth.com and at http://www.noonanrusso.com. CONTACT: Advanced Health Corporation Victoria Feder (914) 524-4204 e-mail: vfeder@advhealth.com or Noonan/Russo Communications, Inc. (212) 696-4455 Jennifer Angell (investors), ext. 240 Michele Helm (media), ext. 225 e-mail: news@noonanrusso.com |
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