ZoomMed inc.

ZoomMed inc.

March 04, 2009 10:25 ET

ZoomMed Inc.: Interest in the ZRx Prescriber Continues to Grow

MONTREAL, QUEBEC--(Marketwire - March 4, 2009) - ZoomMed Inc. (TSX VENTURE:ZMD), creator of the ZRx Prescriber, an e-prescription tool for physicians, is pleased to inform its shareholders and business partners of the strides it is making.

Despite the current economic downturn, ZoomMed is engaged in a growth sector. What's more, U.S. and Canadian governments recently announced that they would seriously invest in technologies for physicians, further contributing to the growing interest in the ZRx Prescriber. "Our e-prescription tool is at the heart of the health sector: it makes the prescription system more efficient, improves patient service quality and reduces associated costs incurred by governments and insurance companies," states Yves Marmet, President and CEO of ZoomMed. "Some 3,000 physicians use the ZRx Prescriber, client pharmaceutical firms are renewing their agreements with us, and our pilot projects with several pharmacy chains are right on track. We're very excited about these developments and are pleased to share them with our shareholders and business partners."

Meeting critical needs

Everyone knows that healthcare costs are rising and that Canada's ageing population is only exacerbating the situation. Yet approximately 900 million prescriptions and lab tests are still written by hand every year in Canada. The sad reality is that errors related to drug interactions and illegible prescriptions lead to 700 fatalities and 150,000 hospitalizations per year, representing $600 million in healthcare costs.

Ever since pharmaceutical companies became constrained in their ability to communicate with physicians, they have had few ways of telling physicians about their new products - until the ZRx Prescriber came along.

What's more, today's overworked physicians are looking for effective ways of making their practices more efficient, of keeping on top of the latest products, and of optimizing their patients' quality of care.

North American needs

The U.S. health sector is also in the grips of similar problems. Close to 90% of American physicians still fill out prescriptions by hand. Those who choose to use electronic prescription tools will receive financial incentives from their government as of 2009. Those who do not will see their wages diminished as of 2012.

"Given the size of this market and the government incentives at play, the United States represents incredible potential for ZoomMed. Already well positioned in Canada, we are studying the U.S. market and seriously analyzing every promising business opportunity", adds the President of ZoomMed.

The Bottom line...

"We have a highly sought after solution, enviable expertise, and the cash assets to bring our business plan to fruition. Conquering a market like this isn't easy, but we're been working diligently and are very pleased with the progress that we are making," concludes Marmet.

About the ZRx Prescriber

The ZRx Prescriber is a Web application that runs on a pocket computer or PC. The tool is used by physicians to fill out prescriptions and then make them available to pharmacists, who can view them online via unique barcodes and confirm them using the physician's signed copy. The only wireless solution to be based on a Web (vs. client-server) application, The ZRx Prescriber enables:

- Physicians:
- To fill out prescriptions in seconds
- To avoid drug interactions
- To choose more appropriate treatments
- To gain easier access to drug information

- Pharmacists:
- To quickly process prescriptions
- To reduce the potential for error
- To realize operational savings

- Pharmaceutical companies:
- To efficiently disseminate information to physicians
- To better know the needs of physicians
- To facilitate the exception drugs procedure

- Patients :
- To minimize risks related to illegible prescriptions and drug
- To obtain faster service from both physicians and pharmacists
- Governments and insurance companies:
- To offer better quality services
- To reduce healthcare costs

For further information on ZoomMed or for distribution and integration information on the ZRx Prescriber, contact us at the address below or visit www.zoommed.com.

The TSX Venture Exchange does not assume any responsibility for the adequacy or accuracy of this press release.

Contact Information

  • ZoomMed inc.
    Yves Marmet
    President and Chief Executive Officer
    450-678-5457, Ext 228