SOURCE: Spine Pain Management, Inc.

January 11, 2010 16:00 ET

Spine Pain Management, Inc. Enters Into Agreement With Forest Park Medical Center

HOUSTON, TX--(Marketwire - January 11, 2010) - Spine Pain Management, Inc. (OTCBB: SPIN) has announced today that as part of its nationwide "roll-out" strategy, it has entered into an agreement with Forest Park Medical Center in Dallas, Texas to open its second clinic within the state-of-the-art facility. Forest Park, a doctor owned, full-service, acute-care hospital that focuses on high-quality surgical services, will facilitate SPIN's medical spine injection procedures.

"This marks an important milestone for our company that seems to fall completely in line with our business strategy," stated William F. Donovan, M.D., the Company's Chief Executive Officer. "Dallas represents an incredible opportunity for our company. Establishing ourselves in this high-density market, we believe we should experience an equal, if not greater amount of patient traffic as our Houston center, giving us the ability to double or better our revenues of profits. Furthermore, the ability to partner with such a high-quality care facility should continue to position SPIN as an industry leader. We believe the synergy between both organizations, will provide the community with a trusted name in high-quality, cost effective medical care services for Spine Injury patients."

SPIN previously announced that its first spine treatment center in Houston, Texas reported that its revenues for the quarter ended September 30, 2009 were $230,000. These third quarter revenues delivered net income of $119,642 or approximately $.01 a share for the quarter. Based on this success and the anticipated increase in revenues for the quarter ended December 31, 2009 the company has initiated a nationwide "roll out" of Spine Pain Treatment Centers across the U.S. into major metropolitan cities. The initial strategy now calls for the development and deployment of a minimum of seven, to as many as ten centers across the U.S. over the next 24 months.

The company's streamlined approach should allow us to fast-track the two-year roll-out of our spinal medical services available to Spine Surgeons, Orthopedic Surgeons and other musculo-skeletal providers. SPIN will employ contract medical services at the regional, state and local levels, and identify and target key Spinal Health Care Providers who handle large numbers of work related and accident type spine injury cases in need for SPIN's Care Management Services.

About Spine Pain Management:

Spine Pain Management is a medical marketing, management, billing and collection company facilitating treatment for patients who have sustained Spine Injuries resulting from traumatic injuries. Our mission is to deliver turnkey solutions to spine surgeons, orthopedic surgeons and other health care providers for necessary and appropriate treatment for musculo-skeletal spine injuries resulting from automobile and work-related accidents. The goal of the Company is to become a leader in providing care management services to spine surgeons and orthopedic surgeons to facilitate proper treatment of their injured clients. By providing early treatment, the Company believes that spine injuries can be managed, and injured victims can be quickly placed on the road to recovery. The Company believes its advocacy will be rewarding to patients who obtain needed relief from painful conditions. The Company provides a care management program that advocates for the injured victims by moving treatment forward to conclusion without the delay and hindrance of the legal process.

Additional information about the Company may also be found at its website at http://www.spinepaininc.com.

Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the Company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and other factors over which the Company has little or no control. The Company does not intent (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the Company's recent filings with the SEC.

Contact Information

  • Contact:
    Spine Pain Management, Inc.
    William F. Donovan, M.D.
    CEO and Director
    713-453-8551
    info@spinepaininc.com