Overtech Corp.

December 04, 2014 09:13 ET

Overtech Appoints New Chief Medical Officer and Managing Director of Beatmungspflege 24 GmbH

STUTTGART, GERMANY--(Marketwired - Dec. 4, 2014) - Overtech Corp. (OTCQB:OVET) Overtech Corp. (the "Company" or "Overtech") and its wholly owned subsidiary Medicus Homecare Inc. ("Medicus"), are pleased to announce the appointment of Dr. Herald Hertl as Chief Medical Officer and Managing Director of Beatmungspflege 24 GmbH.

Dr. Hertl is well known for his position as Clinical Doctor at the Reha-Welt clinic in Stuttgart, a top Sports Medicine and Rehabilitation Centre which is also the main medical facility for the Bundesliga top level Stuttgart Football Club, VfB Stuttgart.

Dr. Hertl is a widely respected leader and known specialist in many fields including Orthopedics and accident / trauma surgery across Germany. He has practiced his studies at the University of Tübingen and has held top level positions at leading hospitals and clinics in Stuttgart such as the Karl-Olga-Hospital and the Winghofer Medicum Clinic.

"During this time as a leading physician and specialist in many fields, Dr. Hertl has gained experience in the management and growth of large Rehabilitation and Medical Centres. Dr. Hertl has establish a track record of as being a leader and has established broad network of contacts, including leading industry professionals such as clinic managers, doctors, insurance companies and government bodies. Dr. Hertl's experiences and contacts will be essential in our growth plan for the coming years. We are extremely happy to have Herald join the Medicus team and playing a key role in our plans to open new centres across the country over the next 12 months," stated President and CEO, Dr. Orhan Karahodza.

Medicus is a leading provider of medical in-home care services in Germany including ventilation for patients that suffer from debilitating diseases such as Amyotrophic Lateral Sclerosis (ALS), Muscular Dystrophy (MD), Guillain-Barre syndrome (GBS), and Chronic Obstructive Pulmonary Disease (COPD). Other services include acute post-patient care, Respiration optimization and monitoring of long-term home respiration with care available throughout Germany within 24 hours for all respiration cases.

The Company's office is currently in the Stuttgart with seven local checkpoints and plans to open additional checkpoints throughout all major German cities. The checkpoints are locations where nurses pick up medication, supplies and equipment prior to visiting the patients in their homes.

At the present time Medicus has 103 employees and contractors of which 80 are nurses responsible for maintenance and care of patients.

Ambulatory care services and nursing care is estimated to be a 27 billion EUR annual market in Germany. The German market for ambulatory care services is estimated to increase to 50 billion EUR by 2020.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Overtech cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their control. Such factors include, among other things: risks and uncertainties relating to their business plan, their ability to raise sufficient financing and their limited operating history. There is no assurance that they will be able to open additional locations throughout Germany on any particular time frame as this is based on factors outside their control like, financing availability, licensing, construction delays and ability to recruit qualified personnel. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Overtech undertakes no obligation to publicly update or revise forward-looking information. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Overtech Corp. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.

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