SOURCE: Oncologix Tech, Inc

Oncologix Tech, Inc

February 11, 2015 09:46 ET

Oncologix Sees Immediate Results With Acquisition Of EsteemCare, Inc.

LAFAYETTE, LA--(Marketwired - Feb 11, 2015) - Oncologix Tech, Inc. (OTC PINK: OCLG), a fully reporting, diversified medical holding company with operating divisions in medical devices, healthcare services and durable medical product distribution, announces increased referrals and revenue growth with its recently acquired subsidiary, EsteemCare, Inc.

The acquisition of EsteemCare, Inc. by Oncologix in September 2014 has resulted in immediate performance related results. The Company's new marketing initiatives have added ten (10) additional physician referral sources in two (2) new MSA markets and expansion of its respiratory therapy service footprint. Additionally, the company made adjustments to internal operational processes with a focus on increased respiratory therapy staffing and enhanced procurement procedures that has resulted in a 25% increase in gross margins and an 11% increase in revenues within the first four (4) months of operations.

Wayne Erwin, CEO of Oncologix, stated, "We are pleased with our entire team's efforts in our first four months of operating activities where EsteemCare has proven to be a strong acquisition, as expected, in our initial operational reviews. We will continue our focus on providing excellence in customer service, increased respiratory therapy staff, and positioning for additional expansions in new MSA markets as a primary respiratory DME platform for growth in the Mid-Atlantic and Southeast markets."

About Oncologix Tech
Oncologix is a fully reporting, diversified medical holding company that operates and manufactures Class II medical device products, delivers Personal Healthcare Services, and Home Medical and Durable Medical products nationally. For its clients, Oncologix provides FDA approved medical devices, state licensed personal healthcare services and Home Medical Products. For its valued stakeholders, Oncologix operates profitable operating divisions that build, maintain and nourish all stakeholder value. The Company's corporate mission is to be the best small cap healthcare services holding company in North America.

About EsteemCare
EsteemCare is a Durable Medical Equipment company established in 1996 with two Southeastern offices located in South Carolina. EsteemCare provides home medical equipment for respiratory and sleep therapy. The Company has a diverse payor mix and is accredited by the Joint Commission on Healthcare Organizations (JAHCO). EsteemCare was awarded 45 Medicare Contracts under the 2013 Competitive bid for Respiratory, Sleep Products and C-PAP and Bi-PAP related supplies.

This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • CONTACT INFORMATION
    Wayne Erwin
    Chairman and CEO
    Email Contact
    (318) 451-9543

    INVESTOR RELATIONS
    Green Arrow Consulting LLC
    (850) 733-9181