SOURCE: Millennium Healthcare Inc.

Millennium HealthCare Inc.

August 03, 2016 08:00 ET

Millennium HealthCare Issues Corporate Update

MELVILLE, NY--(Marketwired - Aug 3, 2016) - Millennium HealthCare, Inc. (OTC PINK: MHCC), a developer and distributor of advanced healthcare services and innovative medical technologies, today issued a corporate update. Millennium has been focused on rebuilding its physician practice management business and its products division, as part of the Company's re-launch and structural re-organization announced in March. Additionally, the Company announced that it has settled $3,567,306.77 of debt and has been formally released from bankruptcy court from a suit filed by creditors in February this year. 

Lou Resweber, Chief Executive Officer of Millennium, stated, "We are happy with the settlement and look forward to continuing our progress on Millennium's re-launch and re-organization. In addition to finalizing the settlement, Management has also continued to work on developing Millennium's Services and Products Divisions that would offer physician practice development, support and administration services for physician facilities and practices and provide leading edge medical devices and equipment for the early detection of some primary health care concerns in this nation, including cancer and heart disease."

"Lou has done a great job leading Millennium since joining the Company earlier this year. His dedication and hard work managing the Company's re-organization has prepared the Services and Products Division to better serve our physician community. I am very pleased with the outcome of the suit and look forward to Millennium's further progress throughout the rest of the year," added Dominick Sartorio, Executive Chairman of Millennium.

About Millennium HealthCare Inc. (www.millenniumhcs.com)
Millennium HealthCare Inc., through its wholly owned operating subsidiaries, provides hospitals, primary care physician practices, physician groups and healthcare facilities of all sizes with cutting-edge technology driven applications, systems and 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.com.

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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