LOS ANGELES, CA--(Marketwire - Sep 10, 2012) - CompuMed, Inc. (OTCBB: CMPD) (www.compumed.net) -- a leader in telemedicine services for patient diagnosis and management -- today announced that it has signed statewide contracts in conjunction with Wexford Health Sources, Inc. CompuMed will provide CardioGram™ electrocardiogram (ECG) remote interpretation systems and cardiologist over-read services to all state-operated locations within the Arizona Department of Corrections and Maryland Department of Public Safety & Correctional Services. Under terms of both the contracts, CompuMed's CardioGram systems will be used to perform telemedicine enabled remote cardiac screening for detainees at the states' correctional facilities.
"We value our association with Wexford Health as the company delivers high quality care to its correctional customers," said Maurizio Vecchione, CompuMed's CEO. CompuMed is a preferred value-added partner of Wexford Health. Based in Pittsburgh, Wexford Health provides comprehensive healthcare services for correctional system clients nationwide.
"More and more states are considering privatizing their prison healthcare to private correctional managed care companies," said Eric Larsen, CompuMed's Vice President and General Manager." He continued, "Since these types of companies specialize in providing great care at a better price, they validate CompuMed's value proposition of lowered costs and high quality care through telemedicine."
CompuMed has had the correctional ECG contract with the state of Arizona for more than a decade but the state recently decided to privatize their prison healthcare. Wexford Health won that bid and contracted with CompuMed to continue and expand its services in Arizona. CompuMed also had the ECG contract for the correctional facilities in Maryland for many years through another partner but the state recently decided to change their prison healthcare provider. Wexford Health also won that bid and contracted with CompuMed to continue priding ECG services in the Maryland DPSCS facilities.
CompuMed's traditional core business is providing telemedicine services such as remote ECG interpretation services to medical facilities that may not have access to trained physicians qualified to interpret ECG results. Customers for the Company's CardioGram system are typically correctional facilities, ambulatory surgery centers, occupational health clinics, rural health care providers and physicians' offices. The system reduces healthcare costs significantly by providing remote cardiac screening at the point-of-care.
For information, contact CompuMed at 310-258-5000 or sales at 310-258-5033.
CompuMed's diagnostic and management tools for the healthcare community focus on telecardiology systems and software solutions. We offer analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners. Visit CompuMed at www.compumed.net and follow on Twitter @compumed.
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.