COMPUMED ANNOUNCES LATEST CONTRACT RENEWALS FOR REMOTE ECG SCREENING STATEWIDE DEPARTMENT OF CORRECTIONS CONTRACTS IN IOWA AND WYOMING FORTIFY COMPUMED'S DOMINANCE IN DOC MARKET
Los Angeles – Jul 02, 2008 -- CompuMed, Inc. (CMPD.OB) --a medical informatics company serving the healthcare community with diagnostic software solutions--today announced agreements to continue providing electrocardiogram (ECG) remote interpretation systems and services for state correctional departments in Iowa and Wyoming.
Under the terms of the Iowa Department of Corrections (IADOC) agreement, CompuMed will provide remote cardiac screening on an as needed basis for more than 8,700 detainees at the Department's nine main correctional facilities.
The contract extension with the Wyoming Department of Corrections is through Prison Health Services (PHS), for which CompuMed will continue to serve as a value-added partner providing remote cardiac screening for detainees at Wyoming correctional facilities.
"We are very pleased that our correctional partners continue to renew their agreements with CompuMed," said Maurizio Vecchione, CompuMed's CEO. "Such renewals reaffirm CompuMed's dominance as the leading provider of remote ECG screening for the correctional facility market."
CompuMed's traditional core business is providing remote ECG interpretation terminals and related services to medical facilities that may not have access to physicians trained and qualified to interpret ECG results. Customers for the Company's CardioGram system are typically correctional facilities, ambulatory surgery centers, occupational health clinics and physicians' offices. The CompuMed system significantly reduces healthcare costs by providing remote cardiac screening at the point of care. Another key advantage is an optional feature that automatically sends ECG results to a trained cardiologist for an over-read when the results are abnormal.
About PHS:
Based in Brentwood, Tennessee, PHS is a leading provider of comprehensive healthcare services for correctional systems. The company employs more than 4,100 healthcare professionals servicing hundreds of jails, prisons and juvenile facilities across the United States. Visit PHS at www.prisonhealth.com.
About CompuMed:
CompuMed, Inc. (CMPD.OB) develops and markets products and services that combine advanced imaging with medical informatics. Its focus is on analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases. The Company has specialized expertise and intellectual property in telemonitoring imaging and analysis designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed's core products, the OsteoGram(R) and CardioGram(TM), are cleared by the FDA and reimbursable by Medicare. The OsteoGram is a non-invasive diagnostic system that has been proven by many clinical studies to provide effective and accurate bone density measurement for screening osteoporosis and assessing hip fracture risk. The OsteoGram has significant cost advantages over other technologies in the marketplace. The CardioGram system is one of the first telecommunication networks designed to remotely interpret electrocardiograms and is used by private practice, as well as government and corporate healthcare providers nationwide. The CardioGram delivers online electrocardiogram interpretations within minutes of receipt and has the additional capability of automatically providing an over-read (i.e., follow-up review) by a cardiologist. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners. Visit CompuMed on-line at www.compumed.net.
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
CONTACT:
Susan Tellem - Tellem Worldwide, +1 (310) 479-6111 x.1.
stellem@tellem.com