JERICHO, NY, April 19 /PRNewswire-FirstCall/ -- Rapid Recovery Health Services Inc. (RPRV: OTCPK) The company announced today that it has seen a strong overall revenue increase of 50% for the last quarter. The company is experiencing rapid revenue growth as they continue expansion in their existing markets. The company anticipates further increases on a quarter to quarter basis as it introduces its High Energy ESWT units into the Florida market. Florida is expected to become one of the company’s largest markets with attractive demographics and year round incidence of sports related injury requiring ESWT treatment. To date the Florida expansion has been the most rapid in the company’s history. “We see a tremendous growth occurring for the company in the coming quarters,” stated CEO Scott Warrantz.
About Rapid Recovery
The Company has established a mobile ESWT Program that contracts with over 1200 physicians in the NY-NJ-CT Tri-State area and in Florida is the exclusive source for low energy ESWT treatment. The mobile program is currently generating in excess of $500,000 in monthly revenue providing treatments in Podiatry and Orthopedic Physician offices. 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, Delaware, and Texas. All of which have already established reimbursement schedules for the procedure. The Company has already generated 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 additional 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 go tohttp://www.rapidrecoveryinc.com/ or contact the company at 1(888) 889-0010.