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Thu, May 14, 2009 VisualMED Clinical Solutions Corp.: VisualMED Clinical Solutions announces distribution deal with China IT provider
MONTREAL--(Marketwire - May 14, 2009) - VisualMED Clinical Solutions Corp. (The "Company") ( Another major development has been the passing of the American Recovery and Reinvestment Act, the Obama Administration stimulus package passed by Congress. Provisions for the automation of healthcare are estimated to be as much as $170 billion. Included is a measure that will pay up to $50,000 per physician for healthcare information technology purchases. "The VisualMED solution can be comfortably sold for this type of budget with good margins," says Chairman Gerard Dab. "The China deal is in keeping with our new policy of licensing our rich technology portfolio to market operators that already have existing clients and established sales networks." After the successful restructuring of the company's operation in 2008, we have continued to reduce cost and have made it easier for the company to reach financial equilibrium. The 2009 estimated operating run rate will be approximately $900,000, down from last year's $4,810,924. Although it may be premature to predict profitability, our last year's revenues of $709,621 and deferred revenues of $600,435, indicate real progress towards achieving break even from operations. Most of the year we have been operating with cash derived from customer revenues. Consequently, shareholders have not been diluted and there have been no sales of shares at our current depressed prices. As a result of the numerous marketing and service partnerships we have entered into over the past 9 months with companies that focus on sales and customer service, the number of healthcare facilities signed up to use applications running on our technology has now reached a critical mass of 11 hospitals and 3 private clinics, all in North America. We have continued to improve client services, and as the sole owner of the suite of clinical modules, we will continue to operate as a 'fab lab' that delivers commercial applications and receives significant royalty streams from marketing partners. An important milestone has been the successful completion of our oncology system implementation at the Segal Cancer Center, a unit of McGill affiliate Sir Mortimer B. Davis Jewish General Hospital in Montreal. Another milestone was the deployment of the same system in a private context at the Ville-Marie Breast Center, a leading Canadian private facility specialized in women's health, with tens of thousands of patient files. Taking advantage of these breakthrough installations, we have entered into a number of new licensing agreements. One of these involves licensing our complete oncology suite with a consortium led by Greenwich Science Partners of Edmonton, Alberta. We will be working closely with this consortium supporting their marketing drive in the US with technical and medical expertise. The agreement calls for royalties ranging from 15% to 30% of sales. Much of the improvement in our business remodeling is based on the ability to share client support resources with our many technology and distribution partners across the broad scope of products currently offered in the marketplace. Our Internet affiliate Medical.MD of Montreal has been making progress in its core internet personal health record business, having signed an agreement to provide hundreds of thousands Personal Health Record to some of America's largest medical complexes. Our partner for Italy and Western Europe, VisualMED Distribution Inc. continues to support and explore opportunities there. VisualMED Distribution has also been began to explore new market opportunities in Canada and the United States as part of a strategy to increase our distribution channel and increase brand visibility and market presence. We have strengthened our partnership with Plexo Inc., a leading Canadian provider of corporate and executive health services. We have entered into an agreement with Plexo for a joint cooperative effort to complete the migration of the entire VisualMED Suites to a new .Net platform. Together we are also strengthening new general practice applications that are being delivered to their many clinics. We are still cooperating with Cardinal Health, part of our move to increase the reach and scope of our distribution channels. As the mix of products running on our technology evolves and grows, we believe that we will be better able to benefit from some of the changes in public policy resulting from the current financial crisis. The focus of the company has radically changed. Where once we were a proprietary medical information company run by doctors for doctors, management has now reverted to a more traditional software model where we license our technology to the greatest number of resellers. "The Board and I remain strongly committed to exploiting our proprietary technology for the benefit of our shareholders. We were prematurely ahead of the curve, but the world is coming around to what we have to offer," concludes Gerard Dab. The past 9 months reflect the positive benefit of shifting cost to our distributors, and of a widening marketing and distribution network. We remain well positioned to immediately benefit from a clear culture change in healthcare management and information technology purchasing, and from the changes in public policy. ABOUT VISUALMED VisualMED Clinical Solutions Corp. markets and distributes proprietary clinical management solutions that help hospitals and healthcare authorities reduce medication errors, increase personnel efficiency and bring down operating costs. One of its key decision support components is a core solution in the new agenda to promote greater patient safety and reduce risks due to medication errors. Detailed information on our company and its products is available on our web site at [ www.visualmedsolutions.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.
