WEST PALM BEACH, Fla.,
May 16, 2012 /PRNewswire/ -- SurgLine
International, Inc. (OTC/QB: SGLN.PK)
Thomas Toland, CEO of SGLN and
SurgLine, Inc. ("SurgLine") announced today that the Company has
signed an agreement that will allow it to offer its low cost
surgical implants products to Castlegate Holdings, LLC.,
("Castlegate"). Castlegate provides product, product
financing and AR management to rural hospitals, ambulatory surgical
centers, and orthopedic and neurosurgical groups. Castlegate
projects that it will utilize SurgLine's products for approximately
twenty (20) surgical spine cases per month. The agreement has a
three year term and the parties estimate monthly sales to begin at
$100,000 per month.
"We are pleased to announce today this agreement with Castlegate
and to work with them in servicing patients in rural communities
throughout California," Mr. Toland
stated. "Our core strategy is to bring our top quality
spine product to markets that previously had been paying for more
expensive products and replace those high cost products with our
high quality, lower cost alternative. As we plan to expand our
product line during the Agreement, the parties expect to increase
monthly surgeries and the related revenues therein."
"Our provider clients are focused on ways to continue to provide
and deliver the best quality care and products, but they are also
trying to reduce cost by sourcing and using "best of breed"
products with the most competitive pricing, and we think SurgLine
is an excellent fit for this solution," stated Brad Hoffman, Managing Director of Castlegate
Holdings.
About SurgLine, Inc.
SurgLine (www.surgline.com) sources and distributes high quality
FDA approved medical and surgical products at discount prices,
thereby reducing or eliminating the historical brand premium paid
by healthcare providers including acute care hospitals, surgery
centers, surgical hospital, self-insured employers and insurance
companies. SurgLine offers high quality medical and surgical
supplies and products at substantial savings utilizing stocking
distributors and institutional buyers by sourcing products globally
without the historical brand premium and industry markup.
About SurgLine International, Inc.
SurgLine International, Inc. is a holding company that in addition
to SurgLine, wholly owns Nuvo Solar Energy, Inc., a development
stage company that owns unique patent pending solar and
photovoltaic related technology. The Company is also seeking
other business opportunities.
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations as to
future events. However, the forward-looking events and
circumstances discussed in this press release might not occur, and
actual results could differ materially from those anticipated or
implied in the forward-looking statements.
About Castlegate Holdings, LLC
Castlegate provides product, financing and AR management to
hospitals, ambulatory surgical centers, and orthopedic and neuro
surgical groups.
For Further Information Contact:
Thomas
Toland
949-698-8485
SOURCE SurgLine International, Inc.