DALLAS, TX--(Marketwire - June 16, 2010) -
BioTech Medics, Inc., (PINKSHEETS: BMCS
) announced today that they have retained Paradigm National Consultants, L.P. of Houston, Texas to determine and if qualified, prepare an application for and on behalf of BioTech for a $5 million IRS Qualifying Therapeutic Discovery Project Credit/Grant that was created by Congress as part of the Patient Protection and Affordable Care Act.
Paradigm Partners plan on conducting on-site visits, collect technical and financial documentation to substantiate qualified activities. They will determine the involvement and contribution of eligible employees and estimate the potential jobs that will be created from the study and grant. Paradigm Partners has extensive experience having performed hundreds of Research & Development Tax Credit Studies. Paradigm's staff consists of tax consultants and I.P. attorneys.
BioTech Medics uses two FDA 510(k) cleared high powered deep penetrating therapeutic medical lasers to treat muscle, skeletal, nerve and arthritis pain. Since 2003 BioTech's physicians and staff have developed 94 proprietary protocols for various ailments such as carpal tunnel syndrome, back ache, arthritis, sports injuries, golfer and tennis elbow, whip lash, migraines, knee pain, fibromyalgia, plantar fasciitis, etc. Unlike cold lasers, patients can feel BioTech's high powered 10 and 12 watt lasers. BioTech has a 90% success rate in reducing or eliminating pain in patients without drugs and/or surgery.
BioTech will use the grants to prove that the use of therapeutic lasers can save an estimated reduction of 30% or more in medications, reduce sick days by 25% and improve recovery time by 40% with specific impairments specified in the study.
BioTech Medics owns and has affiliated BioTech Laser Pain Management Centers in 3 states and is seeking additional practitioners to apply to become an affiliated center in our nationwide expansion. BioTech has clearances to expand into Canada. BioTech is a 13 year old Nevada company with headquarters in Irving, Texas.
Safe Harbor: Forward-Looking Statements
This release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 (the "Act"). Such words like "plan" or "estimate" are indicative of forward-looking statements. There may be "important" factors that cause actual results to differ materially from those predicted. Such factors may include but are not limited to the IRS denying the grant, or not having sufficient credits to approve all applicants.