Attis Industries Partners with NorthCrest Medical Center of Springfield, Tennessee
October 08 2018 - 8:30AM
Expansion and Operation of its Hospital Laboratory Will
Immediately Contribute Revenue
via NEWMEDIAWIRE – Industries Inc. (NASDAQ: ATIS) (the “Company” or
“Attis”), a diversified innovation and technology holding company
emphasizing renewable fuels, bio-based plastics, healthcare and
communications infrastructure, today announced that it has entered
into an agreement with NorthCrest Medical Center, a community
hospital located in Springfield, Tennessee. Attis Healthcare,
a subsidiary of Attis Industries, will assist in the expansion and
operation of their existing state-of-the-art hospital laboratory
and provide outreach services within the community. Attis
estimates that the laboratory will be able to test upwards of 1,000
specimens per month and the Company expects to generate revenue and
cash flow almost immediately from this partnership. While Attis
cannot predict revenues associated with reimbursements, its
diligence into the lab service market supports annual revenue in
the range of $4-$7 million for rural markets, with populations, lab
build out and beds similar in size to NorthCrest.
Laboratory services are an integral part of healthcare and a key
component in the battle against chronic disease. The ability
to provide excellent service to providers can differentiate high
quality laboratories from other less qualified laboratories.
Additionally, in today’s healthcare market, community hospitals
must provide optimal patient care while working to improve hospital
economics through partnerships and outsourcing.
The partnership between Attis Healthcare and the hospital will
not only result in a profitable, highly functioning hospital
laboratory that improves the hospitals economics, but it will also
provide improved health care for the Springfield community and
surrounding areas. The improved program is set to begin
immediately, allowing the hospital and community to begin reaping
the benefits of the improved program as soon as October.
“NorthCrest is a premier hospital with a broad offering of
services. We strive to provide our community, both patients
and providers, with the highest quality service possible, and
improving our laboratory outreach program helps us accomplish that
goal,” stated Randy Davis, CEO of NorthCrest Medical
Center. “Further, in today's healthcare market, it is
important for community hospitals to find new, innovative ways to
improve hospital economics through partnerships and outsourcing and
our partnership with Attis allows us to do just that,” stated
Davis.
"The agreement with NorthCrest Medical Center is another in our
line of partnerships with rural hospitals as we continue to expand
our healthcare business," stated Jeff Cosman, CEO of Attis
Industries. “We pride ourselves on our ability to improve
healthcare for communities, particularly rural communities, while
partnering with outstanding hospitals like NorthCrest. We
will continue to deliver improved patient care to underserved
communities across the nation,” stated Cosman.
“This latest partnership is one of the final steps we have
been working on to complete our core infrastructure in Attis
Healthcare. This contract is a significant milestone as
it will immediately generate revenue and cash flow for the Attis
Healthcare Division. Attis Healthcare remains optimistic
it will receive our Medicare license for our Oklahoma lab in
October; the build out which was completed at the end of August
with the announcement of Attis receiving our CLIA license.
Attaining the Medicare license is the final step of securing
our core assets we forecasted internally as our baseline; the
results of which will drive revenue and cashflows for the fourth
quarter as they ramp up. Additionally, this relationship with
NorthCrest gives our business model of partnering with rural
hospitals credibility to the market as we increase the number of
partnerships in 2019. Attis Healthcare is forecasting 10-12
new partnerships in 2019. With these assets and relationships
in place expect significant growth in revenue and cash flow,”
Cosman continued. The management team is extremely focused on
delivering significant success for the Company, as outlined during
our shareholder call. While the focus of the third quarter was
achieving significant restructuring results of the balance sheet in
the public company, the fourth quarter will be about building the
Company’s revenue once again,” finished Cosman.
Attis Industries, Inc. Attis Industries Inc. (NASDAQ:
ATIS) is a holding company focused on developing and building
businesses that play important roles in the new economy, which
include renewable fuels, bio-based plastics, healthcare and
communications infrastructure. We strive to encourage our employees
to be entrepreneurs focused on innovation and technology. We will
remain dynamic, persistent and motivated to our mission of winning.
The growth of our company will rely on our integrity and our vision
for the future. Attis Industries will continue to fulfill essential
needs in healthcare, energy independence and digital
communications. Today, each of these sectors provide high
growth opportunities that collectively account for more than a
third of our nations GDP. For more information,
visit: www.attisind.com
Forward-Looking StatementsAny statements contained in
this press release that do not describe historical facts may
constitute forward-looking statements as that term is defined in
the Private Securities Litigation Reform Act of 1995. You can
identify forward-looking statements by words such as “anticipate,”
“believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“should,” “would” or similar words. You should consider these
statements carefully because they discuss our plans, targets,
strategies, prospects and expectations concerning our business,
operating results, financial condition and other similar matters.
These statements are subject to certain risks, uncertainties, and
assumptions, including, but not limited to, risks and uncertainties
relating to the Company's ability to develop, market and sell
products based on its technology; the expected benefits and
efficacy of the Company's products and technology; the availability
of substantial additional funding for the Company to continue its
operations and to conduct research and development, clinical
studies and future product commercialization; and, the Company's
business, research, product development, regulatory approval,
marketing and distribution plans and strategies; the ability of the
Company to continue to meet the listing requirements of NASDAQ; the
ability of the Company to execute on a business plan that permits
the technologies and innovations businesses to provide sufficient
growth, revenue, liquidity and cash flows for sustaining the
Company’s go-forward business, and the risks identified and
discussed under the caption “Risk Factors” in the Attis Annual
Report on Form 10-K for the fiscal year ended December 31, 2017,
filed with the Securities and Exchange Commission (the “SEC”) on
April 16, 2018 and the other documents Attis files with the SEC
from time to time. There will be events in the future, however,
that Attis is not able to predict accurately or control. Attis’s
actual results may differ materially from the expectations that
Attis describes in its forward-looking statements. Factors or
events that could cause Attis’s actual results to materially differ
may emerge from time to time, and it is not possible for Attis to
accurately predict all of them. Any forward-looking statement made
by Attis in this press release speaks only as of the date on which
Attis makes it. Attis undertakes no obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
Media and Investors Contact:
Hayden IR
(917) 658-7878
hart@haydenir.com
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