Oncology Med, Inc., Provider of Various Cancer Treatments, Provides Mobile Prostate Cancer Brachytherapy Services to the Univers
May 04 2010 - 9:00AM
Marketwired
Oncology Med, Inc. (PINKSHEETS: ONCO), provider of various cancer
treatments, announced today that it has executed an exclusive
multiple year contract with the University of Pittsburgh Medical
Center (UPMC) to provide mobile prostate cancer brachytherapy
services. This contract includes 11 medical hospitals and 38
affiliate cancer centers in Ohio and Pennsylvania. Oncology Med
expects this contractual relationship to provide as much as 25%
same market growth in its Pennsylvania and eastern Ohio prostate
cancer brachytherapy market for provisions of equipment, staff,
technology, and the sale of disposable radionucliede implantable
seeds.
"We are extremely pleased to complete the lengthy negotiations
with UPMC and come to a very beneficial contractual relationship
between this very large medical treatment network and our company,"
stated William Walker, PhD, CEO of Oncology Med, Inc. "This is a
major accomplishment in view of one of our corporate strategic
goals of expansion of same market growth in each of our
geographical territories," he continued.
"We will be able to absorb this increase in patient volume and
purchased services with our current in-house resources of staff and
equipment," Walker added. "Therefore, we expect a very appreciable
expansion of our overall net bottom line this year with very
minimal expenses to be borne by servicing this new contract," he
concluded.
Oncology Med derives revenue from mobile prostate cancer
brachytherapy contracts from 'per use' user fees associated with
ultrasound imaging, medical physics treatment planning, and
provision of equipment and staff utilized in medical procedures in
advance of the actual treatment and day of treatment, as well as
the sale and management of the disposable radionucliede implantable
seeds. In addition, equipment, staff, and all resources are mobile
allowing for usage at multiple facilities without additional
capital outlay.
Oncology Med is considered to be one of the cancer industry's
leading experts on provision of equipment, staff, treatment
planning, technology, and other resources for the treatment of
prostate cancer. It is the leader in provision of mobile low dose
radiation (LDR) brachytherapy prostate cancer services and support
with current contracts and services being provided in at least 9
states.
In addition to the mobile (LDR) brachytherapy services, Oncology
Med has set up and implemented several high dose radiation (HDR)
systems for treatment of various localized cancers, including
prostate and breast, which requires fixed site equipment, staff,
and support services.
Additional Oncology Med service contracts include staffing
numerous cancer centers with medical physicist, dosimetrists, and
if need be, radiation therapists, acceptance and commissioning of
new cancer treatment equipment and software, periodic audit
services, consulting services, initial completion of radiation
license and/or subsequent amendments to a license, and assistance
with design and build out of radiation treatment vaults to meet
federal, state, and local regulations and codes.
Oncology Med provides a full range of services to the cancer
industry to include full build out, staffing, and management of a
cancer center.
About Oncology Med, Inc. Oncology Med is a public company
engaged in the fulfillment of a wide range of professional medical
services related to the treatment of various cancers. These are
provided through provision of professional medical physics staff,
analysis and design of radiation treatment plans in order for
radiation oncologists to administer radiation treatments to cancer
patients, the per use supply of medical equipment, commissioning of
new technologies and other radiation oncology related services.
More information about Oncology Med, Inc. can be found at
www.oncologymed.com.
NOTE: This press release may contain "forward-looking
statements.'' In some cases, you can identify forward-looking
statements by terminology such as "may," "will," "should," "could,"
"expects," "plans," "intends," "anticipates," "believes,"
"estimates," "predicts," "potential," "continue" or the negative of
such terms and other comparable terminology. These forward-looking
statements include, without limitation, statements about our market
opportunity, our strategies, competition, expected activities and
expenditures as we pursue our business plan, and the adequacy of
our available cash resources. Although we believe that the
expectations reflected in any forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. Actual results may differ materially
from the predictions discussed in these forward-looking statements.
Changes in the circumstances upon which we base our predictions
and/or forward-looking statements could materially affect our
actual results.
For information, please contact: William Walker, Ph.D. (540)
822-5161 Email Contact
Bellatora (PK) (USOTC:ECGR)
Historical Stock Chart
From Apr 2024 to May 2024
Bellatora (PK) (USOTC:ECGR)
Historical Stock Chart
From May 2023 to May 2024