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.
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