SOURCE: Oncology Med, Inc.

July 10, 2008 09:45 ET

Oncology Med Will Begin Servicing New Multiple Year Contract With Large Physician Owned Surgery Center in Metro Boston Area This Month

Oncology Med Steps Up the Pace of Securing New and Ongoing Contracts With ASCs for Provision of Prostate Cancer Services

PITTSBURGH, PA--(Marketwire - July 10, 2008) - Oncology Med, Inc. (PINKSHEETS: ONCO), a Pittsburgh-based cancer treatment solutions group, announced today that during this month of July, 2008 it will begin providing prostate cancer brachytherapy treatment services under a new multiple year exclusive contract with Eastern Massachusetts Ambulatory Surgery Center; a physician owned surgery center being managed by Ambulatory Surgery Centers of America with affiliate facilities located throughout the United States. Activities of the Company will include providing physics and full turnkey prostate cancer brachytherapy services, equipment, staff, and radionuclide seed management to the surgery center and affiliated radiation oncologists.

According to William Walker, Ph.D., Oncology Med's CEO and founder, "This new contract is projected to provide us with approximately 80 cases annually. We are additionally in discussions with several other ambulatory surgical centers in the surrounding areas and hope to announce additional contracts shortly."

Jack Sloan, Vice President of Business Development, added, "We will continue to expand our ambulatory surgery center turnkey programs as we diversify our company and role out additional turnkey programs and services to our target customers such as our new turnkey complete cancer center model for physicians and other interested investors for the design and implementation of new 'centers of excellence' cancer treatment centers which we recently announced. This is just another of our programs where OMI can shine as a cutting edge provider of services supplying nearly all of the clinical and technical services from within OMI and where outsourcing is kept to a minimum allowing for high quality delivery of all necessary components in the fastest time for the lowest cost."

"Our ambulatory surgery center (ASC) prostate brachytherapy programs have been both clinically and financially successful for OMI mainly due to our speed of implementation after contract execution and clinically excellent services provided to the surgery centers and physicians," he continued.

Walker added, "In addition to our ASC programs, we are seeing a substantial increase in the number of free standing cancer centers being developed. We will continue to place our Company in a competitive position to provide the desired and needed services to these clients for continued financial success of Oncology Med in our quest to aggressively expand our footprint in the cancer treatment market through additional long term contracts with local and national clients that are viable and a good fit for our Company and the services we provide. In addition, we will continue to add internal services and staff to meet those goals and to be able to remain a competitive force in the industry."

In addition to physics staffing and support, Oncology Med continues to expand and provide extensive consultation services for new and expanded cancer center construction, certification, and credentialing processes for Joint Commission, as well as, complete turnkey programs for continuation or implementation of radiation treatment programs for ambulatory surgery centers, radiation oncologists, urologists, and hospitals.

All inquiries for Oncology Med's programs and services should be made to its administrative offices at: Oncology Med, Inc., 11928 Ropp Lane, Lovettsville, VA 20180. Phone: (540) 822-5161

About Oncology Med, Inc.

Oncology Med is a public company engaged in the fulfillment of services related to the treatment of various cancers. It currently provides analysis and design of radiation treatment plans in order for radiation oncologists to administer radiation treatments to cancer patients. Current services facilitate radiation treatment programs ranging from external beam radiation to more advanced radiation treatment technologies.

More information about Oncology Med, Inc. can be found at www.oncologymed.com.

NOTE: This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results.

Contact Information

  • For information, please contact:
    William 'Bill' Walker
    CEO
    (540) 822-5161
    Email Contact