HOUSTON, June 5 /PRNewswire-FirstCall/ -- Pediatric Prosthetics Inc. , the nation’s specialist in pediatric prosthetics, today announced that it has received a convertible debt financing in the amount of $1.5 Million. Net proceeds will be used to execute an aggressive national family awareness program in an effort to rapidly accelerate fittings of its customized prosthetics for children. Full details of the transaction may be found in the Company’s Form 8-K at http://www.sec.gov.
Kenneth Bean, vice president of operations of Pediatric Prosthetics Inc., stated, “Given we serve a highly specialized market niche in the prosthetics industry, community outreach is a key component of our growth strategy. With this funding, we can now aggressively implement our national expansion program, establish additional affiliate offices and intensively market our services from coast-to-coast.”
Linda Putback-Bean, CEO added, “To date, we have strategically located affiliate offices in 21 states. These service hubs have fitting facilities, and fabrication labs that families can now visit, and with billing teams and support staff standing ready. We will use the proceeds to continue to expand the accessibility of our services to thousands of families who genuinely need our help, and help them discover that we are there for them. In sharp contrast to adults with prosthetics who usually require one fitting over 4 or 5 years, children require many fittings throughout their growth years. It is our goal to create life-long relationships with our patients and their families, as well as our networked health care providers and partners, which we expect will drive future value for our shareholders.”
About Pediatric Prosthetics Inc.
Pediatric Prosthetics Inc. is the leading private provider of specialized pediatric prosthetics on a national scale. The Company’s CEO Linda Putback- Bean pioneered fitting state-of-the-art myoelectric upper extremity prostheses for the pediatric niche market. In the absence of a hand or arm, a child’s brain still continues sending signals to grasp or open the hand in the residual limb. Myoelectric sensors can read those signals through the skin, (requiring no surgery), and with a computer chip, magnify those signals many fold to actuate a tiny powerful motor to accomplish tasks. In 2003, Ms. Putback-Bean founded Pediatric Prosthetics to create a comprehensive organization that connects parents and their children with a limb-loss to expert pediatric prosthetic fitting, rehabilitation, and life-long care. As a result, Pediatric Prosthetics hopes to increase the quality of life for patients and their families nationwide. For more information, visit http://www.kidscanplay.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular when used in the preceding discussion, the words “believes,” “expects,” “intends,” “will,” “anticipated” or “may” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties including, without limitation, risks associated with operations, availability of capital on a reasonable term, the effects of government regulations and operations risks, and the risk factors set forth from time to time in the Company’s SEC reports, included but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB, and any reports on Form 8-K. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. Pediatric Prosthetics Inc. takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. The forward-looking statements contained herein reflect the Company’s judgment as of the date of this release, and the Company cautions readers not to place undue reliance on these statements.
For more information, contact: At Pediatric Prosthetics Inc. At OTC Financial Network Kenneth Bean Geoffrey Eiten 781-444-6100 x613; 866-582-0966 geiten@otcfn.com1-bean@sbcglobal.net Rick McCaffrey 781-444-6100 x625; http://www.kidscanplay.comrick@otcfn.comhttp://www.otcfn.com/pdpr
Pediatric Prosthetics Inc.
CONTACT: Kenneth Bean of Pediatric Prosthetics Inc., 1-866-582-0966,1-bean@sbcglobal.net; or Geoffrey Eiten, +1-781-444-6100 x613,geiten@otcfn.com, or Rick McCaffrey, +1-781-444-6100 x625, rick@otcfn.com,both of OTC Financial Network, for Pediatric Prosthetics Inc.
