GARDEN CITY, NY--(Marketwired - Mar 10, 2015) - Millennium Healthcare Inc. (OTCQB: MHCC), a healthcare services and medical device distribution company, today issued a corporate update on the Company's progress during the second half of 2014 and plans for further growth in 2015. Dominick Sartorio, Chairman and Chief Executive Officer, stated:
"In the coming weeks, we expect to file our audited 2014 year-end results and look forward to sharing the growth the Company experienced in the second half of last year. Today, I would like to take a moment to update you on our general operations over the last two quarters of 2014 and provide some insights into our plans for 2015.
Millennium Healthcare has been diligently focused on growing its business in the medical device industry, specifically with a focus on providing innovative products to physicians that allow the screening and early detection of potentially life threatening illnesses. The third quarter of 2014 was the first full quarter where the Company placed our exclusive OralCDx® and VasoScan™ diagnostic devices with our existing network of primary care physician groups. OralCDx® is an early detection test for oral cancer, and VasoScan™ is an early detection tool used in cardiology. Our management team has been focused on product placement, delivery and training for our existing distribution channels. With the sales of these exclusive devices, we are also continuing to focus on delivering the best possible post sale customer service and support to our valued customers in order to further solidify the foundation we have started.
In 2015, we anticipate continued growth for our medical device business. In the first half of 2015, management plans to continue its efforts on growing and enhancing the training, certification and customer service for our existing products through our established channels and networks to further build on a core foundation for our exclusive devices. Additionally, management plans to introduce our products into new sales partnerships and channels throughout the second half of the year. While working to increase the placement and sales of our two existing devices, the Company intends to also introduce new products to our growing customer channels and networks.
Like many emerging growth companies, we face our fair share of challenges. These challenges range from the need for additional growth capital and qualified personnel, to managing market expectations and supporting product inventory as demand increases. Management believes that as it meets and overcomes these various challenges, increased opportunities for growth can be realized, which can potentially provide increased shareholder value over the long run.
Although management believes that the current share price does not reflect the overall value of the Company, Millennium Healthcare has seen a dramatic increase in the amount of shares traded for the Company's common stock. Management believes this increased activity potentially represents an increase in investor interest and diversity. We are committed to the growth and success of Millennium Healthcare and to creating opportunities and value for all of our employees, partners, customers and shareholders."
Mr. Sartorio concluded, "In the coming months, we plan to increase our communications with shareholders, investors and other market participants and look forward to issuing the Company's most recent audited financial results on Form 10-K for the year ending December 31, 2014."
For more information on Millennium Healthcare, please visit the corporate website at www.millenniumhcs.net. For more information on the Millennium Healthcare's operational and financial results, please refer to the Company's filings available at www.sec.gov.
About Millennium Healthcare Inc. (www.millenniumhcs.net)
Millennium Healthcare Inc., through its wholly owned operating subsidiaries, provides primary care physician practices, physician groups and healthcare facilities of all sizes with cutting-edge medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing and coding services, and practice development and management services. For more information, please visit www.millenniumhcs.net.
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This press release contains certain statements that 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.