Patient Access Solutions Acquires Stake in Oil Remediation Company

September 14, 2010

HAUPPAUGE, N.Y., Sept. 14 /PRNewswire-FirstCall/ — Patient Access Solutions, Inc. (Pink Sheets: PASO), a leading provider of digital pen and paper technologies for the healthcare industry, announced today that its DPAS Division has acquired a 25 percent ownership in Global Environmental Remediation Solutions, LLC, a Florida-based company specializing in oil spill cleanup technologies. The combination of technologies and intellectual property positions DPAS to access an industry that achieved over $15 billion in revenue and had 23 percent growth worldwide during 2009.

Global Environmental has developed a unique multi-dimensional oil remediation technique for the hundreds of miles of low-lying marshlands on the Gulf coast that have been devastated by the spill. Its proprietary boat design effectively goes into the shallow waters, where the current oil cleanup boats cannot get to, and uses its own oil skimming solution and transfer system to combat the various types of oil that are being found in the area. Global Environmental’s system uses positive displacement to clean the thick crude oil, an inductor venturi collection for the tar balls as well as centrifuge separation for the less concentrated oily water. The key to the unique design is this multi-collection process and shallow water capability that leaves the least amount of impact on the already fragile ecosystem in the marshlands. The vessel can work in waters from as little as 12 inches, and Global Environmental is currently working on a deep water reclamation system for cleanup at depths up to 1,000 feet.

“We’re finding that there is no one type of oil spill we’re running across in the Gulf, and therefore there is no one fix to collect and clean it,” said James Doll, president of Global Environmental Remediation Solutions. “You have to be able to multi-task when you’re out there, change up the collection process on the fly to handle whatever it is you come across, and our new technology handles that the best we’ve seen so far.”

DPAS is simultaneously developing a marine application for its digital pen and paper technology, based on Anoto technology, so boat operators, marine biologists and more can collect information on waterproof paper, such as amounts of oil being collected and separated, environmental observations, etc. When the pen is placed in its docking station, the written information is uploaded electronically to the agency’s computer system and instantly the hand written information becomes usable data for tracking and accountability.

“We are very excited about the acquisition of Global Environmental Remediation Solutions because it provides a natural pathway for the use of our digital pen and paper solutions into the marine industry,” said Bruce Weitzberg, president and CEO of Patient Access Solutions. “It’s often not possible, nor most efficient or smart to be using a laptop or PDA in marine environments. Our digital pen and now waterproof paper (manufactured by Rite in the Rain) make it fast and easy to document progress and keep accurate records.”

The fragile, shallow-watered marshlands of the Gulf Coast are at the epicenter of the oil spill, and if unchecked, that destruction threatens to undermine the world’s seventh-largest estuary. They serve as wildlife breeding grounds and offer shelter and feeding for 5 million migratory birds a year, according to state data. The wetlands also absorb and filter out pollutants and help slow storm surges, which is vital to the area.

“The collapse of coastal marshes is an international economic and ecological calamity, and we are committed to aiding in the remediation and cleanup process with DPAS’ help,” added Doll. “If these marshes are destroyed by oil, it could mean huge losses for the area’s seafood industry and a reduction in the area’s already fragile barrier against a hurricane storm surge.”

DPAS has outlined a number of additional potential maritime opportunities for its digital pen and waterproof paper solution, including marine biology and environmental industries where researchers and practitioners spend time in wet areas often under inclement weather conditions to make observations and record data; fishing industries; flood zones; and more. “We think this partnership between DPAS and Global Environmental will open up some very exciting revenue opportunities for Patient Access Solutions and expand our reach beyond healthcare, finance and hospitality into some other very lucrative industries. In addition, the Gulf of Mexico is not the only geographic location threatened by potential oil spills, so we intend to be well positioned to handle such situations throughout the world,” added Weitzberg.

About Patient Access Solutions, Inc.

Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company’s products are designed to allow health care providers an easy migration to the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology and created by the Swedish IT company Catrel AB, used to capture hand written information into digital forms and EMR systems and PAS Data Center, which is a terminal solution that allows health care providers to quickly and easily determined benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at www.pashealth.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.

SOURCE Patient Access Solutions, Inc.

Source: newswire

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