SOURCE: Oncology Med, Inc.

October 16, 2007 09:20 ET

Oncology Med Signs New Multiple Year Contract With Affiliate of Largest Health Care System in Ohio and Seventh Largest Not-for-Profit Health System in the United States

Oncology Med Steps Up the Pace of Securing New and Ongoing Contracts With New Clients for Provision of Services

PITTSBURGH, PA--(Marketwire - October 16, 2007) - Oncology Med, Inc. (PINKSHEETS: ONCO), a Pittsburgh-based cancer treatment solutions group, announced today that it has signed a new multiple year exclusive contract with Humility of Mary Health Partners, a division of Catholic Healthcare Partners, the largest health system in Ohio and the seventh largest not-for-profit health system in the United States, with facilities throughout Mahoning, Trumbull and Columbiana Counties of Ohio. This exclusive multi-year contract will have Oncology Med providing physics and full turnkey prostate cancer brachytherapy services, equipment, staff, and radionuclide seed management to the system's hospitals of St. Elizabeth Medical Center, St. Elizabeth Boardman Medical Center, and St. Joseph's Medical Center all of which are located in the greater Youngstown, Ohio area.

According to William Walker, Ph.D., Oncology Med's CEO and founder, "As we stated and anticipated in the third quarter of this year, this new contract is another of the many that we hope to announce to our investors and other interested parties over the next several quarters centered around one of our new turnkey programs for cancer treatment. We are aggressively going after new clients and contracted sites and this new multi-year contract is based on one of our new services introduced in July of this year to provide not only physics services and staff, but complete onsite equipment and additional services, such as training, consulting, and credentialing, to enable medical facilities to offer new and expanded services for their physicians and patients."

Jack Sloan, Vice President of Business Development, added, "We consider our company to be unique in the market as opposed to other turnkey cancer providers who are management companies who sub-contract out the necessary professional and technical pieces of their programs to subcontractors for the requisite components to provide a full turnkey program. As a result of this structure they have to charge higher fees to the client to cover the management cost. Oncology Med is a full-service clinical company to which many management companies have turned in the past to fulfill their obligations in providing turnkey cancer solutions. Therefore, Oncology Med can enter the competitive arena of turnkey cancer solutions with all services under one roof, provide faster installation of new programs, equipment, services, and staff, and do so at a lower cost to the client than our competitors."

Oncology Med's new approach to the market allows it more control of its profits and future by securing additional multi-year contracts directly with large and small medical systems and cancer institutes rather than rely on 'per click' usage of its services by management companies with no long term contractual commitment to Oncology Med and its programs and services.

"We will still contract and seek out relationships with key cancer management companies and groups; however, we will expect more long-term commitment from the management companies we choose to contract with and align our resources going forward for a more equitable and financially beneficial contractual relationship for both companies," continued Sloan.

"While many major hospital systems do have their own internal cancer programs and physics departments and staff, Oncology Med is seeing a substantial increase in the number of hospitals contracting those programs and services, either in whole or in part, to outside agencies such as ours to meet the growing demands of staff and technology as radiation treatment expands to be the key treatment of choice for most cancer patients," Walker contended.

Oncology Med's depth of staff, expertise, and technological advanced planning systems and equipment positions the company to be sought out by hospitals, medical systems, and cancer centers who seek to expand and/or improve services without the burden and cost of bringing on additional internal staff that are not fully necessary or which lack the experience and expertise of those provided through Oncology Med.

In addition to physics staffing and support, Oncology Med continues to expand and provide extensive consultation services for new and expanded cancer center construction, certification, and credentialing processes for Joint Commission, as well as complete turnkey programs for continuation or implementation of radiation treatment programs for ambulatory surgery centers, radiation oncologists, urologists, and hospitals.

About Oncology Med, Inc.

Oncology Med is a public company engaged in the fulfillment of services related to the treatment of various cancers. It currently provides analysis and design of radiation treatment plans in order for radiation oncologists to administer radiation treatments to cancer patients. Current services facilitate radiation treatment programs ranging from external beam radiation to more advanced radiation treatment technologies.

More information about Oncology Med, Inc. can be found at www.oncologymed.com.

NOTE: This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results.

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