Airtech Seeks Approval for Insurance Reimbursement.Business Editors DALLAS--(BUSINESS WIRE)--Feb. 12, 2001 Airtech International Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AIRG AIRG Association pour l'Information et la Recherche sur les maladies rénales Génétiques AIRG Asociación Independiente de Radiodifusoras Guatemaltecas (Independent Association of Guatemalan Broadcasters) ) announced today the Company has signed a contract and provided research documentation to H.H. Enterprises Inc., (HHE HHE Health Hazard Evaluation (NIOSH) HHE Hypotonic Hyporesponsive Episode HHE Household Effects HHE Health Hazard Evaluation Program HHE Human Health and the Environment HHE Hand Held Equipment HHE Household Expense HHE Handheld Engine ) of Knoxville, Tenn. to obtain approval for Insurance Reimbursement for its air sterilization technology. HHE is a nationally recognized health care consulting firm with a successful fifteen-year track record of assisting in the procurement of insurance reimbursement for medical devices. HHE has successfully completed projects for a number of high profile clients such as; Johnson & Johnson, Medline, Baxter Labs, and Symphony Health Care. HHE, President Rick Hensley, stated, "Once insurance reimbursement is established for the cutting edge Airtech product, coverage should be available through most of the nation's insurance carriers. The establishment of insurance reimbursement can allow this technology to be reimbursed for the millions of patients suffering from conditions of chronic upper respiratory distress Respiratory distress A condition in which patients with lung disease are not able to get enough oxygen. Mentioned in: Lung Cancer, Non-Small Cell , as opposed to being an out-of-pocket expense to the patient. Reimbursement for this technology will give payers of medical care, the opportunity to substantially reduce the overall treatment costs for caring for these types of patients, while drastically increasing the patient's quality of life. We look forward to working with Airtech in the successful completion of this project, and the important contribution that this air sterilization technology will make to patient care." Final documentation must be submitted by March 31, 2001 in order to receive coverage and reimbursement this year. Airtech President John Harris commented, "This is a significant opportunity for the Company and its shareholders. The attainment of insurance reimbursement could open up the market for any patient covered by a health insurance program to be eligible for our product and subsequently receive reimbursement for it. Our portable air sterilization system (Airsopure Model S-950) will be the lead product, and could produce millions of dollars of revenue to the Company. Harris added, "Millions of Americans suffer from debilitating de·bil·i·tat·ing adj. Causing a loss of strength or energy. Debilitating Weakening, or reducing the strength of. Mentioned in: Stress Reduction conditions such as asthma, severe allergies, pneumonia, COPD COPD chronic obstructive pulmonary disease. COPD abbr. chronic obstructive pulmonary disease Chronic obstructive pulmonary disease (COPD) and emphysema emphysema (ĕmfĭsē`mə), pathological or physiological enlargement or overdistention of the air sacs of the lungs. A major cause of pulmonary insufficiency in chronic cigarette smokers, emphysema is a progressive disease that commonly . These individuals suffer from their diagnosed disease, but research shows that they are highly susceptible to opportunistic bacteria and viruses, in addition to harmful gases such as formaldehyde and carbon monoxide that will complicate their preexisting conditions. Airtech's technology can be a major adjunct to the treatment regimen of these patients, and the availability of insurance reimbursement for our products should decrease patient suffering and the overall cost of treatment." The Company first achieved market recognition with its air purification technology by providing a simple solution using advanced technology and engineering to allows smokers and non-smokers to co-exist in restaurant/ bars. Its corporate customers include: Southwest Airlines, Alphagraphic's, El Chico's, Bennigan's, TGI TGI Tribunal de Grande Instance TGI Target Group Index TGI Thank God It's Friday (US restaurant chain) TGI Tracheal Gas Insufflation TGI Tumor Growth Inhibition TGI Trato Gastrointestinal (Portugese) Friday's, Del Frisco's Double Eagle Steakhouses, Sullivan's, and many other companies. Airtech International Group Inc., (www.airtechgroup.com), is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. under the symbol (OTCBB:AIRG). Airsopure, Inc., (www.airsopure.com) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Airtech. Forward looking Statements in this document that are not historical fact are "forward-looking statements" as that term is defined in the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform of 1995. Forward-looking statements are not guarantees of future performance. Our forward-looking statements are based on trends that we anticipate in our industry and our good faith estimate of the effect on these trends of such factors as industry capacity, product demand and product pricing. These statements are also subject to risks and uncertainties beyond our reasonable control that could cause our actual business and results of operations to differ materially from those reflected in our forward-looking statements. These risks are described in the Company's Form10-K filed September 7, 2000. |
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