SOURCE: Millennium Healthcare, Inc.

Millennium Healthcare, Inc.

July 09, 2015 08:30 ET

Millennium Healthcare, Inc. Completes Its Strategic Acquisition of HealthPath, LLC Adding WellPath to Its Portfolio of Offerings

MELVILLE, NY--(Marketwired - Jul 9, 2015) - Millennium Healthcare, Inc. (OTCQB: MHCC), a developer and distributor of healthcare services and medical devices, today announced that it has successfully completed the acquisition of HealthPath, LLC and its WellPath System.

"We are committed to creating a comprehensive technology driven service offering, and this is the first step towards that business objective," said Noel Mijares, CEO of Millennium Healthcare. 

Mijares added, "HealthPath will provide Millennium with a Health Information Exchange (HIE) capability called the WellPath System that can electronically move clinical information among different healthcare information systems while maintaining the meaning of the information being exchanged. The goal of WellPath is to facilitate access and retrieval of clinical data to provide safer and more timely, efficient, effective, and equitable patient-centered care. This technology will allow Millennium to be seamlessly interoperable with any healthcare delivery system, to use analytics to provide quality measures, and to set up automation to drive higher utilization of its other lines of business under preventative health, such as VasoScan. Additionally, management estimates that HealthPath will increase gross revenue by approximately twenty percent (20%) on an annualized basis."

About the WellPath System
The WellPath System is designed to improve the quality of care, efficiency and profitability of MA Plans, ACOs and other risk entities. WellPath facilitates the efficient delivery of the Annual Wellness Visit while collecting ICD-10/HCC Codes for accurate risk adjusted payments.

WellPath System is the perfect solution to satisfy CMS concerns and to deliver more efficient care as it facilitates the simultaneous delivery of AWVs and the collection of ICD-10/HCC Codes for accurate risk adjusted payments.

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.

About HealthPath, LLC
HealthPath LLC delivers cloud-based software for Medicare's Annual Wellness Visit. It offers the Well Path System that enables healthcare providers to establish a very substantial and recurring income stream; and Well Path Plus, a solution that facilitates the efficient delivery of annual wellness visits while collecting ICD-10/HCC codes for accurate risk adjusted payments. The company's solutions enable a physician or non-physician practitioner to conduct two-three wellness visits per hour, and identify preventive services and other clinically indicated tests. It serves primary care physicians, multi-specialty practices, hospitals and healthcare systems, accountable care-organizations, clinically integrated networks, MA Plans, nursing homes/ALFs, skilled nursing facilities, healthcare clinics, home healthcare companies, IPSs, and senior communities.

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.

Contact Information

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    James Moldenhauer
    949-218-4020