2010 JAN 25 - (NewsRx.com) instaCare Corp. (OTC Bulletin Board: ISCR), a leading provider of prescription drugs, home testing products for the chronically ill, a leading fulfillment provider of direct to patient diabetes programs, and a leading developer of revolutionary cell phone centric e-health products and technologies, announced that it has finalized its 2010 parallel marketing strategy for its cell phone-centric MD@Hand EMR/EHR appliance, which will include partnerships with traditional healthcare companies. The Company concurrently announced that it has engaged William N. Walling, Jr. CFA to review and report on the Company's guidance in an upcoming shareholder conference call (see also instaCare Corp.).
The Company has received six inquiries, expressions of interest, or outlines from a variety of traditional health care companies. Management is evaluating the Company's options through each of the potential partners, and the Board has asked management to contact three of the interested parties and engage in discussions with the goal of executing agreements later in 1Q 2010. Management also believes that additional interested parties will emerge during this process.
Robert Jagunich Chairman of instaCare commented, "We have received inquiry from six entities including systems providers, insurers, a large commercial laboratory, and two health benefits management organizations. All of these companies have unique needs and have determined that to catch up to the quickly moving EMR and EHR standards and the coming national healthcare reform, the best available alternative would be to form a partnership to market our revolutionary technology or acquiring our technology outright."
Interest in new methods to provide EMR/EHR products and services has accelerated as Congress has debated the health care reform bill, as health information technology vendors and insurance companies strive to improve their competitive position pending changes in the health care system. instaCare is poised at the sweet spot of these changes, able to provide its MD@Hand product and technologies that will allow any of the traditional health care companies to exploit an enviable position.
Keith Berman Secretary and CFO of instaCare added, "We remain totally committed to monetizing our game-changing MD@Hand technology and we are pursuing partnerships with companies with a stated need that also provide services or products to or manage large doctor networks. The market reaction, including inquiries and proposals from software companies and insurers, has reinforced our confidence that we have not only the ideal product for the new healthcare marketplace, but perhaps our cell phone-centric solution is the only completed and ready-to-deploy product that will work in an environment where mandates are the order of the day."
Mr. Jagunich concluded, "Our Board and an experienced and now growing team is evaluating these opportunities. Our goal is to move deliberately until the health care bills now in Congress become one law. When that happens, likely sometime in February, our plans will have been completed, our partners chosen and our patents filed. Finally, investors, speculators, funds and individuals have approached us some several times - seeking to collateralize our software and technology, loan us money we do not need, at terms we cannot accept, or provide us with repetitive capital raising schemes that are not in the best interests of our shareholders. We have politely declined all such requests and will continue to do so."
The company also announced that its medical products distribution business continues to grow with expanded profit margins likely in 2010 as the business grows to scale. The pending healthcare legislation is likely to drive significantly increased demand for medical products, particularly diabetic testing products, as upwards of 30 million new patients become eligible for government subsidy or government insurance. The company strongly believes that is well-positioned to benefit from this surge which could double the company's diabetes testing business prior to any organic growth.
