RENO, Nev., May 10, 2011 /PRNewswire/ -- Visual Healthcare
Corp. (the "Company") (NASDAQ OTC: VSHC) announces today
that it has entered into an agreement with Sygenics Life Sciences
Software (Sygenics LSS) to market a 2nd generation of Lab
Automation applications to serve the scientific community. This
allows researchers to replace paper-based scientific records and
paper-based scrapbooks with more dependable and secure electronic
storage capabilities, as well as the ability to instantaneously
share information with other scientists of their choice.
A key feature will be a social media revolution that will bring
laboratory automation into the modern century by providing an
operative multi-layered social media platform with both open and
restricted access in order to create a universal exchange community
for all scientists the world over.
Sygenics Life Sciences Software has been a leader in the field
of creating automated platforms for drug research. This joint
venture will see Visual Healthcare market the new lab platform
across its entire network of licensees and strategic allies. The
company intends to create an internet sales force. It also intends
to use its deep academic roots to penetrate the market of pure
science research as well as that of industrial research. It is
estimated that there are some 5 million full-time research
scientists in the world, and that the market for lab automation of
this kind is on the order of $3
billion on an annual basis. The company believes it can
secure a modest 2% market share whose value could reach as much as
an annual $60 million.
"This is a big step for our company, as we bring together both
our own pharma expertise with Visual Healthcare's medical content
footprint," says Raj Vadavia, Founder and President of
Sygenics.
The social network component will be provided free of charge,
and will allow scientists to form sub-groups within their own
disciplines as well as reach out more easily than before to other
areas of research. Users wanting to fully automate their results
reporting and go paperless will subscribe to services that will
range from $29.99 to $49.99
monthly.
"We expect this to be a highly profitable business," says
Chairman Gerard Dab. "We already
have a deep knowledge of scientific issues, and this is an area
where almost everyone is still working in paper and in which we
will have few competitors."
As discussed earlier in the year, the pursuit of the lab
automation business is an important element that allows us to
leverage our scientific and technology knowledge into generating
new revenue streams from diversified markets.
ABOUT SYGENICS LSS
Sygenics is a leading edge developer and service provider of
advanced information management technology for the Life Sciences
domain. Based on a core evolution adaptive data technology,
Sygenics LSS develops and supports a rapidly growing suite of
software solutions intended to provide highly flexible tools for
the research and scientific community.
For more information on the company, please visit:
www.sygenics.com
ABOUT VISUAL HEALTHCARE
Visual Healthcare Corp., since 1998, designs, creates and
develops innovative information platforms, specifically conceived
for the automation of a wide range of scientific disciplines. These
include pharmaceutical research, clinical trials, laboratory
automation, true quality assurance tools, total quality control
applications, and quantitative analytic tools such as proprietary
frameworks for electronic health records, electronic prescription,
infection and disease control, and smart cancer registries. The
company's extensive portfolio of proprietary technologies is the
result of a unique collaboration between senior clinicians from the
McGill University Faculty of Medicine
and affiliated tertiary care centers, medical software architects,
and a Fortune 100 healthcare service company, investing some
$50 million in the process. The
Company licenses its technology to operating companies in exchange
for an equity stake or a royalty stream. It owns significant stakes
in various companies including VisualMED Clinical Solutions Corp.
(NASDAQ OTC: VMCS), a leader in the field of electronic health
records.
For more information, please visit:
www.visualhealthcarecorp.com.
FORWARD- LOOKING STATEMENTS
Except for historical information provided herein, this press
release may contain information and statements of a forward-looking
nature concerning the future performance of the Company. These
statements are based on suppositions and uncertainties as well as
on management's best possible evaluation of future events. Such
factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for
the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic
changes. As a result, readers are advised that actual results may
differ from expected results.
Contact:
Gerard Dab, CEO
Visual Healthcare Corp.
514-582-5220
e-mail: visualhealthcare@gmail.com
SOURCE Visual Healthcare Corp.