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Last updated on April 23, 2014 at 1:22 EDT

Millennium HealthCare schedules opening of 3rd Vascular Surgical Facility

September 12, 2012

GARDEN CITY, N.Y., Sept. 12, 2012 /PRNewswire/ — Millennium HealthCare Inc. (OTC Pink: MHCC) announced today that its wholly owned subsidiary, Millennium Vascular Management Group, has negotiated and executed a management and service agreement with a physicians group for the opening and management of the Company’s 3rd Vascular Surgical Facility in Queens, New York. The scheduled opening is fourth quarter, 2012.

Chris Amandola, President, stated, “Millennium HealthCare’s Vascular Practice Management Group has launched three new vascular facility openings beginning February 2012 in New York and New Jersey. The Company is in active negotiations with multiple medical groups to expand our model nationwide with an initial strategic emphasis on the East Coast. The specialty outpatient healthcare industry for peripheral vascular disorders (PVD) offers significantly lower medical costs for healthcare providers and improves the outcome for the patient in time, convenience and result. Our goal is to establish Millennium as a premier cardiovascular practice management group nationwide.”

Millennium’s management strategy is to focus on recent changes in medical insurance reimbursement for procedures in an out-patient setting versus the hospital. The medical insurance industry is drastically trying to reduce the overall cost of patient care performed in a hospital setting. This emphasis allows physicians to perform their elected procedures in an out-patient setting. Millennium practice management focuses on treatments for peripheral vascular disease that can be more efficiently preformed in an out-patient day center setting. The opening of the 3rd such center under management will greatly add to Millennium’s future revenues.

Recent medical insurance company acquisitions (acquisition by ATENA of Coventry Health Care for $5.7 billion) indicates that the large insurance companies are moving to significantly cut their expenses while maintaining their services. The movement to out-patient medical care is the easiest way to lower costs for the insurance industry.

About Millennium HealthCare Inc.

Millennium HealthCare Inc. provides physician practices with practice management & development services to enhance and grow their business. Our primary focus is on practices specializing in Cardiology and Vascular care.

Vascular Management Services – Medical practice management & development services for physicians primarily focusing on vascular disorders such as peripheral arterial disease (PAD). These minimally invasive procedures for (PAD) are performed by a highly skilled team of Interventional Cardiologist’s and Vascular Surgeon’s that specialize in this care and treatment. Millennium Vascular Management Group offers these physicians an alternative office based setting to enhance patient care & comfort, physician flexibility and clinical outcome.

Cardiology Management Services – The cardiology practice management & development services offers practitioners a flexible business alternative to expand their patient retention and flow by providing advanced cardiology care & testing capabilities within their existing office setting. Advanced in-house services promote long-term patient retention and revenue for their practice.

            Additional Services Offered:
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Certain written and oral statements made by us may constitute “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Forward-looking statements are identified by such words and phrases as “we expect,” “expected to,” “estimates,” “estimated,” “current outlook,” “we look forward to,” “would equate to,” “projects,” “projections,” “projected to be,” “anticipates,” “anticipated,” “we believe,” “could be,” and other similar phrases. All statements addressing operating performance, events, or developments that we expect or anticipate will occur in the future, including statements relating to revenue growth, earnings, earnings-per-share growth, or similar projections, are forward-looking statements within the meaning of the Reform Act. Because they are forward-looking, they should be evaluated in light of important risk factors that could cause our actual results to differ materially from our anticipated results. The information provided in this document is based upon the facts and circumstances known at this time. We undertake no obligation to update these forward-looking statements after the date of this release.

SOURCE Millennium HealthCare Inc.


Source: PR Newswire