Freehold, NJ, March 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MEDIFIRST SOLUTIONS, INC. (MFST) (the “Company” or “Medifirst”), a provider of innovative laser technology with its FDA 510(k) cleared Infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device and a provider of Specialty Pharmacy Drug Consulting Services and Distributor of Dr. Gupta Pharma and USA Pharma CBD, is pleased to announce a company update for each division.
As previously announced, Medifirst has been working with Antah HealthCare Group to introduce and test the FDA cleared therapeutic Time Machine Infrared Laser as a drug-free and all natural treatment for pain and inflammation. Antah HealthCare Group is one of the largest Malaysian owned healthcare marketing and distribution companies in Malaysia. Commented Medifirst President, Bruce J. Schoengood, “We are very pleased to announce that after successfully testing and purchasing the Time Machine Laser, Antah has agreed to become a distributor for Medifirst. A definitive agreement is being negotiated and formalized.”
Regarding further international distribution, Medifirst is pleased to announce it is in the final stages of negotiation with a medical distribution company for distribution rights for its Infrared Laser for Latin America. Recent market research forecast strong growth in Latin America’s healthcare market, particularly when it comes to medical equipment and device sales. Brazil and Mexico and smaller markets like Chile, Peru, Guatemala and Costa Rica should become increasingly important players as well. Additionally, one of the major trends projected is a growing customer base for private medical services. Industry reports show that the middle class is complementing their public health coverage with a private option, so much so in fact that Latin America’s health insurance companies have the most rapid level of growth in the world, with 30% growth each year projected through 2025. Commented Schoengood, “Considering its ease-of-use and affordability, we believe that our FDA cleared laser is a perfect fit for this growing market and we are excited to be introducing our laser to offer a new solution for people suffering from chronic and acute pain.”
In further expanding the laser distribution, Medifirst has entered final negotiations with an affiliate healthcare company that has cutting edge healthcare products that presents a natural synergy with the Medifirst laser devices. The potential agreement would be part of a strategy to leverage each company’s distribution and marketing network to the benefit of each company. Stated Schoengood, “This opportunity allows both companies to expand their product lines and therefore expand their brands and products, and increase market awareness with the goal to create additional revenue streams.”
Although no assurance of a final agreement for these distribution deals can be made now, Medifirst is very pleased with the progress made, and anticipates further updates for both distribution agreements in the upcoming days or weeks.
TMJ and Physical Therapy
Medifirst has identified both Oral Surgeons/TMJ and Physical Therapy as two sectors to target in which, we believe the Time Machine Infrared Laser can be most effective. TMJ (temporomandibular joint and muscle) disorder is a medical condition which causes dysfunction and pain in the jaw joint and the muscles that control jaw movement. Some of the major symptoms of this disorder are aching facial pain, tenderness or pain in jaws, pain while chewing, etc. After 1 to 3 treatments, many patients have seen very positive effects in reducing pain and inflammation for this condition.
The U.S. outpatient rehabilitation/physical therapy market is estimated to be a $30 billion industry with a projected annual growth rate of five percent or higher. Given the aging and active U.S. population, the demographics favor a sustained growth in patients seeking or requiring rehabilitation services. Also, increasing numbers of Americans who engage in fitness regimens, coupled with increasing numbers of “weekend warrior” athletes, is driving increased demand for physical therapy and rehabilitation treatments across the U.S. We believe, the laser can be an extremely effective treatment tool for physical therapists who seek to reduce inflammation and pain affecting many of their patients. One 8 to 10-minute laser treatment does not put any additional burden on the Physical Therapist, since patients typically spend up to 90 minutes per session.
With millions of people suffering from everyday pain, the Company considers home use a “game changer” if the laser can be proven safe and FDA cleared for home use. Working cooperatively with affiliate companies, Medifirst is expanding its scope to initiate the possibility of applying for FDA clearance for home use for its Time Machine Infrared Laser. Medifirst is pleased to announce that an IRB study for the laser for safety has been approved for home use which would have to be successfully completed in advance of a FDA submission. Additionally, working with an affiliate company, a $3,000,000 government grant to help facilitate a study for the Time Machine Laser has been submitted, although currently not approved or funded. Stated Schoengood, “FDA clearance for home would potentially be one of the biggest markets we can target. We could help people suffering from pain and provide a treatment in the convenience of their home. Many people are not physically able to travel several times a week to a doctor and it can be a financial burden as well.” Medifirst anticipates further updates and details regarding this study in the upcoming weeks and months.
Infrared laser technology has historically shown to be effective for a wide array of conditions. Medifirst will also continue to explore and expand the wide range of conditions for which its Infrared Laser can safely and effectively be used. This expansion may involve new studies and FDA submissions that we would announce at the applicable times.
Aesthetic Green 532nm Time Machine Laser
The Medifirst 532nm Green Laser is designed for anti-aging and the aesthetics market. It is IRB approved and currently scheduled for FDA for 510(k) submission in 2019. We would announce the submission, which is subject to change, at the time of submission.
The Time Machine Aesthetic Program was created to strip away years of aging. Treatments include sun and age spots, wrinkles, acne, hyperpigmentation, scars, skin tightening, and stretch marks. The treatments are non-invasive with no redness or swelling and no downtime for the patients. Each patient gets a customized treatment program designed to meet their specific goals and expectations.
According to Global Industry Analysts Inc., the global market for aesthetic medical laser systems are forecast to reach US $10 billion by 2020, driven by the population’s shift towards minimally invasive procedures, and growing awareness over the safety of laser-based procedures.
USA Pharma CBD
Medifirst is pleased to announce that it plans to begin stocking CBD inventory for the USA Pharma CBD for consumers and the Dr. Gupta Pharma line of premium CBD for physicians. The CBD will be sold in 30ml tincture bottles and will have various strengths. The consumer line will be marketed under the Medifirst CBD brand, USA Pharma CBD and the high strength CBD will be sold to healthcare professionals through the Gupta CBD line. In addition, Dr. Gupta has completed his flagship websites to offer medical guidance for people seeking to use CBD.
This website is CBD portal for doctor education on CBD. It will include patient referrals as well.
This website is designed to provide a CBD Health Card to all patients who use CBD. The website will both educate the consumer and to connect them with physicians for medical guidance.
Medifirst recently announced that it has launched USA Pharma, Inc., its division for CBD distribution, sales and products and that it completed an agreement with Dr. Gupta Pharma LLC to distribute a line of premium CBD oils. Dr. Sanjay Gupta, not related to Dr. Gupta of CNN, is a Harvard-trained physician who specializes in the treatment of pain, has significant experience using CBD for treating pain. As the President of the American Pain Association, Dr. Gupta believes that CBD, used under the guidance of a physician, can play a significant role in reducing pain and helping to curb the opioid epidemic. Additionally, he believes CBD can play a major role in overall health and wellness but, he concedes, CBD remains underutilized as there is a substantial lack of education and stigma from public and healthcare providers with regards to the benefits of CBD.
Concierge Concepts Rx. CCRX
CCRX, a wholly owned subsidiary of Medifirst, is pleased to announce that it has completed negotiations and expects to enter into a definitive agreement with a local SP (Specialty Pharmacy) to become contracted with them as a partner pharmacy. The SP is licensed currently in 37 states but only markets in NJ. As part of the final agreement, CCRX would take over marketing to physicians in all other states except NJ. CCRX will do all the billing as well as collections for every referral that occurs outside of NJ. Upon completion of a definitive agreement, which is not assured at this time, Medifirst will make the appropriate announcement.
CCRX is dedicated to expanding retail pharmacy into the emerging Specialty Pharmacy market and opening revenue streams to promote market competitiveness and profitability. Expertise includes: Specialty and infusion pharmacy consultants, billing expertise for Specialty Pharmacy products, third party billing provider and services, authorization analysis, experts with 60 years of combined specialty pharmacy and infusion therapy management. Industry analysts projects the total pharmaceutical industry to exceed $483 billion in 2020, with specialty pharmaceuticals making up 44% of the revenue. If these projections hold true, specialty drugs will have increased their revenues by over 5X from 2010–2020, growing from just 15% of the market to nearly half in that decade.
About the Time Machine Laser
The Time Machine Laser is the only all-in-one, affordable, FDA cleared, Infrared, 2000mW power, small, hand-held portable laser marketed for pain relief in the U.S. The Time Machine Laser, which has been extensively tested and approved by Intertek for safety and electrical standards, has the power and frequency often found in large and expensive stationary units and at a fraction of the cost. Medifirst Solutions, Inc., in response to its Premarket Notification 510(k) submission for “The Time Machine” Series Laser, received clearance from the U.S. Food and Drug Administration (“FDA”) to market its infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device. The Laser is intended for use in temporary relief of minor muscle and joint pain, stiffness, minor arthritis pain, muscle spasm, temporary increase in local blood circulation and temporary relaxation of muscles by means of topical elevated tissue temperature from infrared spectral emissions. Visit www.medifirstsolutions.com for more information. Follow on Twitter @Medi_First and for Facebook visit Medifirst Solutions.
The statements in this press release that relate to the company’s expectations about the future impact on the company's results from new products in development are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
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