U.S. MedSys Corp. Announces Launch of Nationwide Podiatry Network.Business Editors/Health/Medical Writers DENVER--(BUSINESS WIRE)--May 10, 2004 U.S. MedSys Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :UMSY), a marketing and distribution organization that provides medical devices and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services to the healthcare industry, announced today an agreement establishing PMC/Footcare Network, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the country's largest podiatric network, based in Hackensack, New Jersey. Under the terms of the agreement, UMSY has invested $400,000 in PMC/Footcare Network, in return for its 51% ownership position. The network currently has 1,600 podiatrist Podiatrist A physician who specializes in the medical care and treatment of the human foot. Mentioned in: Shin Splints podiatrist members with a target of 6,000 members within the next twelve months. Practice Management Corporation (PMC (1) See Portable Media Center. (2) (PCI Mezzanine Card) A PCI-based mezzanine card that is widely adapted to VMEbus, CompactPCI and PCI cards. ), an equity member in the LLC, is the manager of the network. UMSY anticipates it will provide network services to insurance companies, union healthcare plans and other healthcare networks through PMC/Footcare Network. The agreement will be effective immediately. Peter Futro, 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. of UMSY commented, "As a result of this agreement, we can begin marketing state-of-the-art medical products into a brand new medical network. UMSY has added an entirely new market to its business, and we have created a new profit center for the company consistent with our business plan. Initially, PMC/Footcare Network will serve the referral base of PMC's existing 1.3 million members in over 40 states. We also plan to serve as the podiatry podiatry (pōdī`ətrē, pə–), science concerned with disorders, diseases, and deformities of the feet, also called chiropody. Podiatrists treat such common conditions as bunions, corns and calluses, and ingrown toenails. network for other insurance providers." Futro concluded, "As a marketing and distribution organization, podiatry offers us a completely new market for our medical devices and support services. This network leverages our staff and offers us new opportunities for enhanced revenue and earnings growth. We continue to seek out such opportunities, and we are actively trying to develop similar networks in other medical specializations." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the American Podiatric Medical Association, approximately 75% of Americans will develop some kind of foot health problems over the course of their lives, and women are 4 times as likely to suffer podiatric problems as men. About 5% of the US population sees a podiatric physician each year. About 6% of the US population has foot injuries, bunions, and flat feet or fallen arches fallen arches: see flat foot. each year. The APMA APMA American Podiatric Medical Association APMA Automotive Parts Manufacturers' Association APMA Australian Pharmaceutical Manufacturers Association APMA American Preventive Medical Association APMA Australian Packaging Machinery Association also warns that "arthritis, diabetes, nerve and circulatory disorders can show their initial symptoms in the feet." In the US, there are over 13,000 doctors of podiatric medicine podiatric medicine n. See podiatry. in active practice, and they receive more than 60 million visits per year. Podiatric physicians provide three times more foot care services than orthopedic physicians, and more than all other kinds of physicians combined according to the APMA. Almost 600 new podiatric physicians graduated annually from the nation's 7 podiatric medical colleges in the last decade. About U.S. MedSys Corp. U.S. MedSys Corp. is a marketing and distribution organization, which provides medical devices and support services to the healthcare industry. U.S. MedSys Corp. plans to focus on its core competencies in sales and marketing and outsource other functions such as manufacturing and related engineering and product development. In most cases, products will be leased to either the clinician performing the procedure or the affiliated clinics where the procedures are performed. Generally, leased products will be shipped directly to customers by the manufacturer and support services will be provided directly by the manufacturer pursuant to agreements with U.S. MedSys Corp. For more information see www.usmedsyscorp.com This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. Actual results could differ materially, as the result of such factors as competition in the markets for the company's products and services and the ability of the company to execute its plans. By making these forward-looking statements, the company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. |
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