LOS ANGELES, CA -- (Marketwire) -- 08/06/12 -- CompuMed, Inc. (PINKSHEETS: CMPD) (www.compumed.net), a medical informatics and telemedicine services company, has secured a contract extension to provide its signature CardioGram electrocardiogram (ECG) remote interpretation system and over-read services for the Oklahoma Department of Corrections (OKDOC). CompuMed also signed a new contract for CardioGram ECG remote interpretation and over-read services with the Iowa Department of Corrections.
The OKDOC currently rents 22 CardioGram systems and uses CompuMed's over-read services and ECG supplies as part of the contract. The OKDOC has more than 25,000 prisoners in its system.
Under the terms of the new agreement with the Iowa Department of Corrections (IADOC), CompuMed's CardioGram system will continue to be used for EKG services providing remote cardiac screening on an as needed basis for the IADOC system, which houses more than 8,000 inmates. IADOC owns 10 of CompuMed's CardioGram systems.
Maurizio Vecchione, CompuMed's CEO, said, "Many of our correctional contracts are being renewed. It's a core part of our business and something that sets us apart from other telemedicine companies. Our renewal rate is very high which demonstrates our effectiveness and the skill level of our over-read physicians."
Customers for the company's CardioGram system are typically correctional facilities, ambulatory surgery centers, occupational health clinics, research facilities and physician offices. New markets being targeted are pre-participation athletic screenings for school sports and juvenile justice facilities.
The CardioGram system reduces healthcare costs significantly by providing remote cardiac screening at the point-of-care and reducing unnecessary transports to emergency rooms. However, the most unique and life-saving feature of the CardioGram is the device's over-read capabilities or "The Doctor Inside," which immediately engages one of CompuMed's on-call cardiologists to over-read the computerized interpretation. Cardiologist over-reads can be made available to attending physicians at the point-of-care providing expert interpretations in those situations where the data is ambiguous or difficult to interpret. "The Doctor Inside" is a key element of CompuMed's unique approach to telemedicine and telecardiology.
CompuMed, Inc. (PINKSHEETS: CMPD) develops and markets products and services that combine advanced imaging with medical informatics. Its focus is on analysis and remote monitoring for patients with cardiovascular and musculoskeletal diseases. The company has specialized expertise and intellectual property in telemonitoring imaging and analysis designed to improve healthcare provider workflow and patient care while reducing costs. CompuMed is headquartered in Los Angeles and distributes its products worldwide both directly and through OEM partners. Visit CompuMed at www.compumed.net and follow at Twitter: @compumed.
Statements contained in this press release that are not historical facts, such as statements about prospective earnings, savings, revenue, operations, revenue and earnings growth, results of contracts and other financial results, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including statements concerning the Company's plans, objectives, expectations and intentions are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These statements are subject to uncertainties and risks including, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, product and service demand and acceptance, changes in technology, ability to raise capital, the availability of appropriate acquisition candidates and/or business partnerships, economic conditions, the impact of competition and pricing, capacity and supply constraints or difficulties, government regulation and other risks identified in the Company's filings with the Securities and Exchange Commission including its Annual Report on Form 10-KSB and Quarterly Reports on Form 10-QSB. All such forward-looking statements are expressly qualified by these cautionary statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect events, conditions or circumstances on which any such statement is based after the date hereof, except as required by law.
Tellem Grody Public Relations
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