TORONTO, Feb. 8 /PRNewswire-FirstCall/ -- Rapid Recovery Health Services Inc.(formally Achievor Recovery Ltd.).(AHVR: OTCPK) announced today that with Achievor's recently announced acquisition of Mr.Warantzs' company it has appointed Scott Warantz to the position of Chairman and Chief Executive Officer. Mr. Warantz will continue as the driving force behind the development of the Ortho shock wave business. Effect as of this date Marvin Winick will resign as Chairman and President of the company.
Also as reported yesterday, Achievor is changing its name to Rapid Recovery Health Services to better reflect its future focus in the Health Care area. Mr. Warantz stated "We look to the next 12 months as extremely exciting times, we are well positioned to grow our business and become the dominant player in the Ortho Shockwave segment for pain management."
About Rapid Recovery Health Services
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 Ortho Shockwave go tohttp://www.rapidrecoveryinc.com/ or contact the company at 1(888) 889-0010.