Oncology Med's Prostate Cancer Brachytherapy Program Exceeds Initial Financial Projections With the Largest Health Care System i
17 4월 2008 - 10:15PM
Marketwired
PITTSBURGH, PA a Pittsburgh based cancer treatment solutions
group, announced today that it is exceeding its initial financial
projections with its multiple year exclusive contract with Humility
of Mary Health Partners, a division of Catholic Healthcare
Partners, the largest health system in Ohio and the seventh largest
not-for-profit health system in the United States. During the first
six months of this contract, the referral of patients to its
prostate cancer brachytherapy program has steadily increased and is
exceeding projected proforma utilization. This trend is expected to
keep Oncology Med on track to exceed its financial projection as
predicted in January of this year.
Under this exclusive multi-year contract Oncology Med provides
physics and full turnkey prostate cancer brachytherapy services,
equipment, staff, and radionuclide seed management to the system's
hospitals of St. Elizabeth Medical Center, St. Elizabeth Boardman
Medical Center, and St. Joseph's Medical Center all of which are
located in the greater Youngstown, Ohio area.
According to William Walker, Ph.D., Oncology Med's CEO and
founder, "This initial program in Ohio which went operational last
November has proven the viability of the Oncology Med model. We are
committed to expand our client base by entering into similar
contracts with a variety of healthcare organizations resulting in
additional revenue increases."
Oncology Med has executed a contract with a large ambulatory
surgery center management company in the northeast and is looking
to enter into additional turnkey brachytherapy programs in the
northeast. The first northeast program is expected to be
operational by June. "We fully expect our northeast project to
duplicate the financial success of our Ohio turnkey prostate
treatment program and anticipate a number of other centers in that
region to sign on board over the next few months. Once others
become aware of the success of Oncology Med's programs and the
quality of its services and patient outcomes, we expect very rapid
growth into additional new geographical healthcare markets in the
U.S.," stated Dr. Walker.
Jack Sloan, Vice President of Business Development, added,
"While only in the early months of this program, the high number of
patients being treated is an early indication that many patients
are choosing radiation therapy as their treatment of choice for
prostate cancer as has been indicated by several studies. Our
turnkey brachytherapy program eliminated the need for the hospital
system to spend valuable time and effort in organizing a new
program from scratch and dramatically shortened the implementation
time of their program and acceptance of new patients. In addition,
the hospital saved a substantial amount of upfront capital
equipment dollars on the project because fees are based on usage
which means the program pays for itself as it grows without
incurring a deficit on the front end," Sloan continued.
"Based on industry data, we continue to believe that radiation
treatment for cancer, particularly prostate and breast
brachytherapy cancer treatments, will continue to be the treatment
of choice for those patients who meet the treatment criteria which
will continue to make it a consumer driven treatment modality. This
will continue to drive utilization and expansion of our
brachytherapy cancer treatment programs throughout the U.S.," Sloan
concluded.
About Oncology Med, Inc.
Oncology Med is a public company engaged in the fulfillment of
services related to the treatment of various cancers. It currently
provides analysis and design of radiation treatment plans in order
for radiation oncologists to administer radiation treatments to
cancer patients. Current services facilitate radiation treatment
programs ranging from external beam radiation to more advanced
radiation treatment technologies.
More information about Oncology Med, Inc. can be found at
www.oncologymed.com.
NOTE: This press release may contain "forward-looking
statements." In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "could,"
"expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential," "continue" or the negative of
such terms and other comparable terminology. These forward-looking
statements include, without limitation, statements about our market
opportunity, our strategies, competition, expected activities and
expenditures as we pursue our business plan, and the adequacy of
our available cash resources. Although we believe that the
expectations reflected in any forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. Actual results may differ materially
from the predictions discussed in these forward-looking statements.
Changes in the circumstances upon which we base our predictions
and/or forward-looking statements could materially affect our
actual results.
For information, please contact: William Walker, Ph.D. Oncology
Med, Inc. Email Contact
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