SOURCE: XTend Medical, Inc.

December 05, 2007 06:31 ET

XTEND Medical (XMDC) Secures Managed Care Contract With Major Southwest Provider

Value of Contract Could Exceed $5 Million in Revenue for 2008

SUN VALLEY, CA--(Marketwire - December 5, 2007) - XTend Medical Corporation (PINKSHEETS: XMDC) announced the company has secured a managed care contract with a major Southwest managed care company that will bring in at least $3 million per year in revenue with the likelihood of the contract exceeding $5 million in 2008.

The company released the following statement: "Through the hard work and dedication of our partner Medical Cost Management and our executives here at XTend, we're very pleased to announce this managed care contract for implementation in the first quarter of 2008. We're now working on the training programs for the patients and staff to implement our diabetic care programs and the protocols needed to insure the patient compliance portion of the program is set and training can begin in the 1st quarter of 2008," stated Mr. Paul D. Lisenby, Chairman and CEO of XTend Medical. Mr. Lisenby added, "This is the first of what we feel will be many contracts to follow within the next few months. We've had several meetings with various managed care companies with applaud responses confirming that our value propositions of our diabetic programs are second to none in the marketplace. In addition, we are in the process of securing additional 'Telehealth' products that will be offered to managed care companies and the public which will improve our opportunities to target other diseases such as congestive heart failure, sleep apnea, and COPD."

About XTend Medical: XTend Medical Corporation markets and sells healthcare and wellness products to hospitals, managed care companies, nursing homes, physician groups and individual patients. Through their alliances, XTend offers pharmacy services, diabetic supplies, and telemedicine products that increase patient care yet reduce costs associated with servicing those patients. For more information, please visit their website at www.xtendmedical.com

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact Information

  • Company Contact:
    FutureTechIR for XTend Medical Corporation
    Investor Relations
    (817) 812-2105