SOURCE: Millennium Healthcare Inc.

Millennium Healthcare Inc.

May 15, 2015 08:30 ET

As Medical Device Industry Shifts, Millennium Healthcare Inc. Is Well Positioned for the Future

MELVILLE, NY--(Marketwired - May 15, 2015) - Millennium Healthcare Inc. (OTCQB: MHCC), a healthcare services and medical device distribution company, today announced that through the continued expansion of its distribution network in 2014 and its outlook for 2015 and through its expanding pipeline of new, innovative, and non-invasive medical devices focused on preventative care and early detection, the Company is well positioned to become a leading distributor for not only primary care physicians but also for other growing healthcare segments, such as the growing number of primary care physicians moving into the urgent care industry. Today, Millennium, through its wholly owned operating subsidiary Millennium Medical Devices, LLC, provides primary care physician practices, physician groups and healthcare organizations of all sizes across the U.S. with cutting edge medical devices that provide non-invasive diagnostics, for example, the VasoScan™ Cardiovascular Assessment Test.

According to research by A.T. Kearney in "Medical Devices: Equipped for the Future?", the cash value generation potential in the medical device industry could potentially grow to a $34 billion by 2020. However, the research also predicts a decline in margins of up to 6% between now and 2020, suggesting that companies in the industry need to adjust for the impeding disruptions and changes in the industry in order to succeed. Additional research on the $2.8 trillion U.S. healthcare industry by PwC Health Research Institute in "Top Health Industry Issues of 2015" noted that one of the trends identified in 2015 was a shift toward more user friendly medical devices. Notably, the research shows that within the next five years, 90 percent of physicians surveyed believed that patient devices and applications will be important to their practices.

Chris Amandola, Millennium's President, stated, "Millennium is well positioned to become a leader in the medical device industry. To be successful in this shifting marketplace, companies will need to continuously offer innovative products and devices and reach into new markets. Millennium's size and business model has afforded us the ability to not only grow in the current market place but also be prepared for these future industry trends and shifts. The devices and products we distribute offer cutting edge technology, are cost effective, are cleared by the FDA and are focused on preventative, non-invasive diagnostic testing. We will continue to offer these leading edge medical devices to our growing network of primary care physicians. Management is also looking to deliver our products and services to new markets, such as the growing number of primary care physicians moving into the urgent care market, which is a market is currently estimated at $17 billion. We believe Millennium has been built on a solid foundation and is positioned to move with future industry shifts, maintaining the company's potential to continue to grow well into the future."

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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
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.

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    James Moldenhauer
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