PALM BEACH GARDENS, Fla., July 25 /PRNewswire-FirstCall/ -- MediSys Corporation announced it has executed a definitive Distribution Agreement with Innovative Practice Solutions, Inc., a Georgia based Medical Practice Management firm. Innovative Practice Solutions (IPS) will represent MediSys Corporation as an exclusive distributor of the MaxLife Center for Men(TM) in Georgia.
IPS differs from most practice management firms by virtue of being led by successful owners of Family Medicine, Internal Medicine, Pain Management, and multidisciplinary practices. It is a performance-based and results-driven firm that provides an array of practice management services including Medical, Physical Therapy, Third Party Billing, Coding & Collections, Malpractice Claims, Marketing and Advertising, Equipment Leasing and Supplies, Diagnostic Testing Services and Multidisciplinary Structuring, among others. Currently, it serves approximately 20 medical facilities in the Georgia and Northern Florida markets and provides Mobile Diagnostic Services to approximately 300 Medical Practices nationwide.
MediSys' management estimates that this Distribution Agreement could lead to approximately 300 MaxLife Center for Men(TM) system sales. Each system retails for $69,995 and could potentially equate to $22.4 million in gross revenues during the next three years if all of the practices were to purchase a MaxLife Center for Men(TM). An additional licensing fee of $1,595 per month for each system could lead to $6.1 million per year in recurring revenues. MediSys' Chief Executive Officer Joshua Konigsberg commented, "Initial feedback from their clients has been extremely positive. We are very pleased to have such a reputable company marketing our systems." He continued, "We are thrilled about this Agreement and having the IPS become our Exclusive Representative in the Georgia market. To have a firm with their reputation, track record, experience and affiliations, will allow rapid penetration into a market that otherwise might take years to penetrate. Since IPS already has a trusted relationship with the physician it will make it easier for the physician to choose to become a licensed MaxLife Center for Men(TM). It seems that the more one knows about the business of healthcare, the more they appreciate the MaxLife Center for Men(TM) and what it can do to enhance a practice." Konigsberg added, "Depending upon the results of this Distribution Agreement, we may move forward with a hybrid approach to sales that utilize both independent distributors and dedicated sales reps."
MediSys Corporation provides medical diagnostic solutions to physicians in the internal medicine, family medicine and general practice markets. The Company's innovative clinical programs are easily integrated into the physicians practice, are cost-effective and enhance patient care. These programs or "systems" enable doctors to provide superior medical diagnostics & treatment while significantly improving their revenues and profits.
Disclaimer Regarding Forward-Looking Statements:
This announcement may contain certain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated. Forward-looking statements speak only as of the date the statement was made. The Company assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. If the Company does update any forward-looking statement, no inference should be drawn that the Company will make additional updates with respect to that statement or any other forward-looking statements.
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