JERICHO, NY, April 12 /PRNewswire-FirstCall/ -- Rapid Recovery Health Services Inc. (RPRV: OTCPK) Scott Warantz, CEO announced today that it has named Dr. Anders Cohen as a clinical Director to the company. A highly respected doctor in his field, he bring years of valuable experience and insight to Rapid Recovery Health Services, a mobile ESWT program that serves over 1200 physicians in the CT-NJ-NY and Florida areas.
About Dr. Anders J. Cohen
Dr. Cohen is an Assistant Clinical Professor of Neurosurgery at the Weill Cornell Medical Center/New York Hospital in New York. He is a highly respected physician with an extensive background. Dr. Cohen has been Chief Resident, Neurosurgery Long Island Jewish Medical Center - North Shore University Hospital, from 2002-2003, Chief Intern, Massapequa General Hospital from 1997, and from 1993 D.O. of New York College of Osteopathic Medical, Old Westbury, New York.
The company is pleased to have the caliber of Dr. Cohen join Rapid Recovery at this time as Rapid continues to grow its operations. Scott Warantz reiterated yesterday’s press release about the company’s guidance for 2005. He added that “We are pleased that our growth is ahead of schedule, with target revenues approaching the $8,000,000 mark for 2005, and with the help of our advisors we will certainly meet all our objectives.”
About Rapid Recovery
The Company has established a mobile ESWT Program that contracts with over 600 physicians in the NY-NJ-CT Tri-State area and is the exclusive source for low energy ESWT treatment. The mobile program is currently generating in excess of $250,000 in monthly revenue with five systems providing treatment. The Company is interested in establishing mobile routes in the top 100 market areas throughout the United States. Some of the areas include Illinois, Ohio, Wisconsin, Massachusetts, Florida, Maryland, Delaware, Texas, and California. All of which have already established reimbursement schedules for the procedure. The Company already has a fair volume of physician interest in these markets.
Market Size
ESWT is a treatment designed to treat tendonapothies throughout the body that would otherwise require surgical treatment. Based on the demographics of our national population, wide-spread historical statistics on tendon-related ailments and coverage from insurance carriers, the Company conservatively estimates there is a market demand for over 15 million treatments per year. This figure represents approximately 10% of the existing surgical markets of patients with insurance coverage that pays for ESWT. In other words, based on the current mix of insurance payers, with as little as a 10% market penetration into the existing surgical market for patients suffering from tendonapothies, there is a market for 1.25 million procedures per month. The Company sees this figure increasing by 300% - 500% over the next 18 - 36 months as more insurance carriers begin to initiate coverage for ESWT.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and section 21B of the Securities and Exchange Act of 1934, as amended. Readers are cautioned not place undue reliance on these forward-looking statements, which are only predictions and only speak as of the date hereof. Forward-looking statements usually contain the words “estimate”, “anticipate”, “believe”, “plan”, “expect”, or similar expressions and are subject to numerous known and unknown risks and uncertainties. These risks and uncertainties could cause the Company’s actual results to differ materially those indicated in the forward- looking statements.
Rapid Recovery Health Services Inc.
CONTACT: For more information about Rapid Recovery Health Services Inc.go to http://www.rapidrecoveryinc.com/ or contact the company at 1(888) 889-0010