SOURCE: Banyan Corporation

May 04, 2006 00:01 ET

Banyan Corporation Forms Subsidiary -- Virtual Medical Systems Inc. -- to Market New Electro-Diagnostic Testing Machine

LOS ANGELES, CA -- (MARKET WIRE) -- May 4, 2006 -- Banyan Corporation (OTC BB: BANY) Banyan Subsidiary Premier Medical Group Inc. has completed beta testing for the VT3000, a revolutionary new Electro-Diagnostic testing machine. Banyan has formed a new subsidiary, Virtual Medical Systems, to market the new machine and associated electro-diagnostic professional services. Electro-Diagnostic testing is used in diagnosing problems related to nerves, muscles, spinal cord or the brain. The VT3000 adds another revenue stream to Banyan in addition to significantly lowering our operating costs for diagnostic testing.

By owning their own VT3000, Doctors will be able to perform Nerve Conduction Velocity Tests on their patients, as indicated, in their own office thereby eliminating the inconvenience of sending their patients elsewhere. Virtual Medical Systems' board certified physicians will interpret results of the tests and prepare a detailed report. The VT3000 also features Live Viewing technology whereby our nationally registered technicians, and many times board certified physicians, view the test live to support and assist the Doctor in real time to ensure quality testing.

Commenting on the new VT3000 and Virtual Medical Systems, Banyan CEO Michael Gelmon said, "We have developed a revolutionary and extremely cost effective electro-diagnostic testing machine. With a VT3000 in their office, Doctors can better serve the needs of their patients with timely testing and results. Sales of the VT3000 also adds a new revenue stream to Banyan and improves our operating costs."

For more information on Chiropractic USA, Diagnostic USA, and Premier Medical Group contact Banyan Corporation Investor Relations toll-free at (800) 808-0899 or visit

About Banyan Corporation

Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses. Currently the company's subsidiary, Chiropractic USA, Inc. is focusing on the development of branded chiropractic clinics throughout North America by way of franchising chiropractic clinics under its marks and uniform operating systems and practices. The company's other subsidiaries; Premier Medical Group LLC, and Diagnostic USA, Inc. provide diagnostic testing to physicians nationwide.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. For a description of additional risks and uncertainties, please refer to Banyan's filings with the Securities and Exchange Commission.

Contact Information